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MGM Mirage is making a greater name for themselves by taking the casino resort idea to the next level and placing them in major markets, such as the recent project of bringing the MGM Grand to Detroit, Michigan.
Now, the company has decided that it will create the biggest resort casino in Atlantic City, a project that will cost between $4.5 and $5 billion. Speculation over the idea’s benefits are mixed because of the decling boardwalk city revenue due to competition from surrounding states.
The resort will include 3,000 rooms and suites spread out across three hotel towers. The resort will also include convention facilities and retail space, much like most of the resorts going up around the World these days.
MGM Mirage already owns the Borgata Casino in Atlantic City with Boyd Gaming Corp., and the addition of the new resort casino will make the the area a little stronger.
There has been a complete revamping of Atlantic City in recent years with the old owners, such as Donald Trump for example, wanting to move out, and new fresh casinos being built to be able to compete in today’s growing casino market.
In addition to the expansion in the United States, MGM Mirage is also set to open their MGM Grand Macau before the end of the year. Stock prices have risen steadily since the beginning of the year.
The beginning of the MGM Atlantic City project is set to take place in 2008, and after four years of construction is expected to open in 2012.