The Borgata Hotel Casino & Spa is located on a parcel of land that is currently being eyed as the potential new home of a joint project by MGM International and Caesars Entertainment Corp.
Twenty years ago, the marina section of land where the casino is situated, known as the H-Tract, was expected to be home to a minimum of three casinos and possibly even four. Only the Borgata was built on the property and with 15 acres of land still buildable, this could be the home of the joint project said to be in the works by the two gaming companies.
On Thursday, it was announced by MGM International, owner of the Borgata, and Caesars Entertainment Corp, that the two had met with Governor Chris Christie and were considering a joint project. Caesars currently owns three Atlantic City properties which includes Harrah’s Resort, a venue located right next door to the Borgata.
At the time, no details were provided on the joint venture but the Governor did state that formal announcements should be made in the next few weeks. In a report by the Press of Atlantic City, the CEO and Chairman of MGM Resorts International, James Murren, commented that the company owns a tremendous amount of land on Renaissance Point and they are going to be working with their friends at Caesars to determine how they can further move AC along.
MGM officials have stated that they plan on making improvements to the Borgata now that they have purchased a controlling stake in the company. The casino sits on more than 85 acres of land and it was in 2016 that MGM purchased a stake in the Borgata via Boyd Gaming for $900 million.
It will be interesting to see if in the coming weeks this parcel of land will become the home of a new gaming venue or just what the exact plans are of MGM and Caesars as they work together on a new project in Atlantic City.