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Casino Construction/Expansion News |
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Written by Brian
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Wednesday, 27 September 2006 |
Trump Taj Mahal Casino Resort was granted $15.3 million to help finance its previously announced $250 million, 800-room hotel tower. CRDA funds come from a pool of money that encourages construction of casino-hotel rooms. Thousands of hotel rooms at other casinos have been built since the 1990s using the funds. The new tower is expected to open in the summer of 2008.
The CRDA also approved a $2 million loan for Tropicana Casino and Resort's proposed 500-room noncasino hotel at Belmont Avenue and the Boardwalk. According to previously announced plans, Tropicana is looking for a joint development partner to build the estimated $100 million project, which would include retail shops, restaurants and a 1,500-space parking garage.
In March 2006, MGM Mirage announced that it has begun predevelopment and design work for a new casino/resort, tentatively called "CityCenter East", patterned after the company's CityCenter project in Las Vegas. If built, CityCenter East would be located on 55 acres of land situated between The Borgata and Harrah's Atlantic City.
Morgan Stanley has also bought 20 acres directly north of the Showboat Hotel and Casino and plans to build a 1 Billion Dollar-Plus Resort Casino.
Speculation is mounting that Steve Wynn wants to redevelop Bader Field after the airport closes. Wynn is famous for spectacular, megaresort casinos like The Bellagio, The Mirage and Wynn Las Vegas. Bader's almost 150-acre property would offer enough land for such a project.
Wynn has twice abandoned Atlantic City, first in 1987 when, fed up with New Jersey gaming regulations, he sold the Golden Nugget to Bally Manufacturing and then again in 2001 after talking the state into spending $330 million on a tunnel that would take people directly from the AC Expressway to the Marina district.
Harrah's Entertainment announced that it will rebrand Bally's sometime in the future to either the Horseshoe or Rio brands.
On September 5, 2006, Pinnacle Entertainment announced that it purchased Sands Casino Hotel and will tear it down to build a $1.5 billion resort. |
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Last Updated ( Wednesday, 27 September 2006 )
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