The property that accepted Atlantic City’s first wager, Borgata Hotel Casino and Spa, is to invest in excess of $11m to develop a new bar and sports wagering experience.
Beginning construction on the new venue, which the property anticipates to debut later in the summer, it is hoped that an “entertaining bar experience” and sports wagering will prove to be perfect accompaniments.
History was made within the region on June 14 of last year, when the Borgata became the first Atlantic City casino to accept a legal wager, coming just three days after New Jersey governor Phil Murphy signed a bill passed unanimously by the state legislature, creating a regulated environment where licensed casinos could establish legal sportsbooks.
The Borgata, which forms a part of the MGM Resorts International stable, has followed its inaugural wager up by launching the PlayMGM NJ mobile sports betting app within the Garden State.
Marcus Glover, president and chief operating officer for Borgata Hotel Casino and Spa, commented: “Since Borgata arrived in the Atlantic City market more than 15 years ago, we have maintained a steadfast dedication to property growth and development; with our new concept exemplifying this objective.
“We are proud to have been at the forefront of legalised sports betting in New Jersey, and look forward to advancing our product with an innovative gaming and entertainment experience for our guests to enjoy.”
The New Jersey Division of Gaming Enforcement is poised to announce its latest set of monthly revenue reports next week, which will detail how the state’s establishments performed in the final month of 2018.
In November, the latest set of financials available, the Borgata reported total gaming revenue of $61.6m, of which $1.07m was made up of sports wagering, $4.7m in igaming revenue and the remaining $55.7m from its land-based operations.
Since taking its first bet the property has a revenue of $6.1m from its sports betting operations, helping the state to claim an overall figure of $73.2m.