Borgata Upgrading Casino as Atlantic City Property Tries to Regain Market Share
Posted on: September 3, 2024, 02:08h.
Last updated on: September 3, 2024, 02:23h.
Borgata Hotel Casino & Spa in Atlantic City will begin upgrading its gaming floor next week. The overhaul comes as the casino operated by MGM Resorts continues to lose market share, specifically high-end VIP players, to Hard Rock and Ocean.
Borgata announced Tuesday that the Gypsy Bar will close on September 6 to make way for a “reimagined gaming experience” area. The Gypsy Bar is located next to the Old Homestead and Izakaya fine dining restaurants.
The casino floor is also being equipped with a new high-end lounge featuring a curated selection of rare liquors from around the world. A new Asian-themed restaurant concept is additionally in the works.
We couldn’t be more excited about this project as we look ahead to this next phase of Borgata’s evolution,” said Nik Rytterstrom, president and chief operating officer of Borgata. “These enhancements are not just about maintaining our position in the market — they’re about pushing the boundaries of what our guests can expect from a world-class gaming destination.”
The Borgata casino floor update is the resort’s first major project since Rytterstrom took over the Marina District property in March. When he was appointed to the top role at one of MGM’s most critical assets outside of Las Vegas, Rytterstrom pledged to continue to differentiate Borgata in the competitive Atlantic City landscape, where nine casinos are battling to retain customers.
Borgata Rebound
Borgata has long been the most profitable casino in Atlantic City. It’s also long generated the most gross gaming revenue (GGR) in town. However, since Hard Rock and Ocean opened in June 2018, Borgata has seen its market dominance lessen.
In 2019, Borgata’s $709.6 million in GGR represented 26.4% of the market. Atlantic City brick-and-mortar casino revenue totaled approximately $2.68 billion that year. Hard Rock won $324 million for a 12% stake and Ocean won $215.7 million for an 8% position.
In 2023, Borgata won $729.7 million on its physical gaming floor for a 25.6% share. Hard Rock’s $512.4 million accounted for 18% of the market while Ocean’s nearly $415 million in casino win represented 14.5%.
In 2024, Borgata has managed to win back some of that lost market share, though Hard Rock continues to improve its position.
Through eight months of the year, Borgata’s roughly $427.8 million in casino win represented 26.2% of the industry. Hard Rock’s $316.9 million accounted for about 19.5%, and Ocean’s share remained stable at 14.5% with GGR of $235.6 million.
Recent Upgrades
Borgata’s investment in improvements to its casino floor comes after the resort spent $55 million to renovate the Water Club hotel tower, which was subsequently rebranded to the MGM Tower at Borgata. Each of the more than 700 guest rooms and suites were refreshed with cool, light tones.
With the main Borgata hotel, the destination offers 2,727 rooms. During the first half of 2024, Borgata reported that the rooms were occupied 71.1% of the time on an average nightly rate of $175.29.
Along with the hotel and casino, Borgata in recent years revitalized its Long Bar on the gaming floor, expanded the outdoor pool, and opened the 9,060-square-foot Overlook event space on the 32nd floor. The venue has 28-foot floor-to-ceiling windows overlooking the Marina District and Atlantic Ocean.
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Last Comments ( 12 )
I have been a loyal Borgata customer since it opened. It used to be a first class casino but has deteriorated in the past few years. My last visit there I was accosted by the heavy smell of pot EVERYWHERE in the casino including "non smoking" areas! It was disgusting. Where is security when people are OPENLY smoking weed in all areas?? The casino felt dirty and MANY of the machines were not working. I'm waiting for this "miracle" renovation that's going on to see what it will bring. Hopefully it will bring back some of the class that's been lacking lately. Unfortunately I am stuck with the situation since I need my MGM connection for Vegas.......
Management doesn’t get it. Borgata used to be our go 2. The standards were first class. Now you see shoddy landscaping, dirty entrances and a lack of over all cleanliness. On top of that they take away Gypsy bar the high energy spot in the heart of the resort. Thought we would give them a second shot this summer after being a loyal customer for ten years. Comp room was now $79 and there were glitches in their system that we couldn’t cash out our ticket. Ocean is our new go 2.
Went there to play Video Poker. No exaggeration 60% of machines are broken. Didn’t get a quad in 3 hours of play. Stick with Bally,s and Harrahs if VP is your game.
Feels creepy to go to Borgata. It gives a sense of apprehension and heightened, guarded alertness to be in the casino. Never felt like that before. Thinking about not going back.
I was a regular there but after my last few experiences, I am no longer a customer. Stone faced blackjack dealers. Rude restaurant servers. Final straw was sitting at a 25 dollar BJ table. I bought in and sat there for 20 minutes waiting for them to refill the chips and talk to each other and whatnot. As the game was about to resume, a supervisor changed the minimum to 50 and refused to grandfather me in for 25. There were only 2 of us playing! I asked if I could play for 25 and got a curt no in reply. I then gathered up my 700 in green chips and left with the dealer yelling to me to color up. Then I proceeded to drive over to Hard Rock. Was treated wonderfully. I have never returned to Borgata. They’ve been nasty since MGM took over.
Not Liking the way borgata casino floor is looking with the new what ever they're building inside the casino looks very sad and that view with those walls that don't have any windows or meaning, just looks like an empty box and an eye sore... missing the old borgata casino floor....hopefully it 's for the better,, anyways still our favorite casino in Atlantic City for now./
This was once the Crown Jewel of AC. Whoever was in charge of their Mid-tier customers (Gold) decided to take away comp rooms, comp dollars, and comp gifts, and allow these loyal customers to walk away. Poor management has contributed to the rapid downfall. The constant weed smoking in and around the property shows what type of clientele they are attracting. Its sad.
What was once an airy open floor is now a room surrounded by a 40 foot prison wall.
Revitalized the long bar? It’s too dark and who was the brainiac who took the TVs out for a plain black wall !!!! And a craft beer book !!! You can’t be for real!!! You should rename it the “DUNGEON BAR “. Very sad for the Gypsy bar it was a great place. Good music and good times !!!
29% of the time you could’ve booked those rooms through comps!! The guests would certainly spend money gambling, eating, entertainment, the pool…why are you eating those un booked rooms?!?! Rare liquors?? That’s a bit weird when you need $$$…add some live bands by soon to be defunct Gypsy bar! Take a cue from Hard Rock- music near or around the gaming area is good business!!
I'm sure those "rare liquors" will bring in the whales.
Why aren't you power wash those steps at surface parking area they're filthy