July 2019 was a record-breaking month for the Borgata regarding revenues as the New Jersey Division of Gaming Enforcement reported that the casino reached close to $88 million in total gaming earnings. The amount was more than double what the remaining casinos in Atlantic City were able to earn for the month. Sports betting and gambling revenues were up close to 8% according to revenue reports.
Time to Spend:
The Borgata will be taking a huge chunk of earnings and reinvest in their property. The casino plans on spending $14 million to refurbish the bar of the hotel lobby near the VIP area, as well as renovate the Fiore suites, of which there are more than 300.
COO and President of the Borgata, Marcus Glover, commented on the renovations by stating: “The reinvention of our business has been a core principle since our 2003 debut, and we are pleased to continue developing the type of engaging product that our guests have come to anticipate. By enriching our hotel product, we are ensuring each guest enjoys an optimal Borgata experience that begins as soon as they walk through the door.”
The announcement of the refurbishments comes just a few months after the Borgata opened their brand-new Moneyline Bar & Book as well as the Level One Cocktail Bar & Lounge. The two venues opened on June 29th and cost over $12 million to create.
Moneyline offers a wide variety of options for sports bettors, with a 40-foot wide by 11.5-foot tall LED video wall along with 17, 98-inch and 86-inch displays. The bar is 35 feet long, allowing ample space to enjoy drinks and watch the games on television. Wagers can be placed via six betting windows in the space or with an interactive sports betting kiosk.
As the market in Atlantic City remains competitive, the upgrades completed by the venue are sure to help the property stay at the top of their game. The new lobby bar project should finish up later this month while the hotel room renovations will not be completed until next year.