Booming Borgata in Atlantic City Plans $14 Million Renovation

Hotel-Casino Spends for New Lobby Bar, Face-Lift for Suites

The Borgata Hotel Casino & Spa, the top gambling moneymaker in Atlantic City, New Jersey, is trying to up its game, spending $14 million for improvements to spiff up its lobby and suites.

The 2,000-room property at 1 Borgata Way in Atlantic City’s marina district will be adding the Lobby Bar and an adjacent VIP check-in, as well as redesigning more than 300 of its Fiore Suites, the MGM Resorts International venue said this week.

Those updates follow the Borgata’s recent debut of a sports-entertainment venue, Moneyline Bar & Book, and nightlife club, Level One Cocktail Bar & Lounge, projects that entailed a $12 million investment.

Atlantic City’s gaming industry underwent tough times a few years ago, and there was a shakeout of casinos. Several have since reopened. But the Borgata has been a success story, a top performer in terms of generating gambling revenue in the seaside city. Out of nine casinos, the Borgata in July by a large margin racked up the most total gaming revenue, roughly $88 million, up 15% from a year ago, according to the New Jersey Division of Gaming Enforcement. For the year to date to the end of July, the Borgata also ranked No. 1, with $455 million in total gaming revenue, a rise of roughly 2%.

The Borgata’s new 1,700-square-foot lobby bar area is set to include three large-screen televisions, coffee service featuring Lavazza products, and offer a tapas and cocktail menu. With art deco-inspired interior design by Avenue and architecture by Nelson Worldwide, the new bar will have “a speakeasy ambiance,” according to Borgata’s statement. It will feature custom wood and brass detailing and velvet-upholstered lounge seating, and serve as a piano bar with live entertainment on weekends.

The lobby improvements are slated to be completed this month.

The Borgata’s updated Fiore Suites, designed by MGM Resorts Design & Development with architecture by Nelson Worldwide, will be equipped with custom entertainment centers featuring stone countertops, gold-dusted sconces and USB charging ports. The Borgata plans to have redesigned a total of 312 Fiore Suites by early 2020.

“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,” Borgata President and Chief Operating Officer Marcus Glover said in a statement.

The Borgata has 106,000 square feet of event space; 161,000 square feet of gaming; 189 table games; 2,994 slot machines; a 75-table poker room; 11 boutiques; five fine-dining restaurants by renowned chefs; and 10 casual food options.

For more information about Atlantic City a office space for sale or lease in Atlantic City or about any other Atlantic City commercial properties for sale or lease, please contact WCRE at 856-857-6300.

Wolf Commercial Real Estate, a full-service CORFAC International brokerage and advisory firm, is a premier Atlantic City commercial real estate broker that provides a full range of Atlantic City commercial real estate listings and services, property management services, and marketing commercial offices, medical properties, industrial properties, land properties, retail buildings and other Atlantic City commercial properties for buyers, tenants, investors and sellers.

Please visit our websites for a full listing of Atlantic City  commercial properties for lease or sale through our Atlantic City  commercial real estate brokerage firm.

*Article is courtesy of CoStar News, SEPTEMBER 06, 2019|LINDA MOSS