MGM Chairman and CEO James Murren said earlier this month he thinks the new development will be a catalyst for continued growth in what was a flat-lining gambling town just three years ago.
“We are going to be working with our friends at Caesars to find out how we can further move Atlantic City along,” Murren said at a press conference. “It’s not going to be easy, but we are up for the challenge.”
Cozy political platitudes aside, the main question is: What are these gambling giants developing?
New NJ casino property between Borgata and Harrah’s?
New Jersey Gov. Chris Christie mentioned during the press conference that more details about the MGM-Caesars development will be released in the next few weeks.
At the time of this writing, there are no such details. But there is plenty of speculation.
For starters, there’s an obvious absence of development in the lot between Borgata Hotel Casino & Resort (MGM) and Harrah’s Resort Atlantic City (Caesars). This grass-covered space between Renaissance Point Blvd. and Brigantine Blvd. is criss-crossed by a few dirt walking paths, but that’s about it.
Satellite imagery seems to indicate there’s enough space to construct a hotel, casino, and parking. It would be a tight fit, though, rubbing shoulders with Harrah’s and the Borgata.
Richard Pernicaro, the director of business research at Atlantic Cape Community College, told Press of Atlantic City a new casino hotel in that space is totally feasible. He noted there was, at one time, a plan to put a Circus Circus on the land.
The lot is sandwiched between an MGM property and a Caesars property. This could imply the two companies might be working together to build something new. However, not everyone is convinced.
Atlantic City Boardwalk not out of the question
There is still the possibility MGM and Caesars could place their project on The Boardwalk.
The two companies certainly have enough money and clout to develop on virtually any available land in the city. Judging by the way they’ve interacted with Christie and Mayor Don Guardian, there don’t seem to be any Glenn Straub-esque qualms about navigating governmental red tape.
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