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Atlantic City's Borgata on Target for 2003 Opening

14 May 2001

NEW YORK --May 14, 2001 –As reported by Reuters: " Eight months after breaking ground for construction on the Borgata, executives for the new Atlantic City resort said the project is on target for completion in summer 2003.

"When it opens, the $1 billion joint venture developed by gaming concerns Boyd Gaming and MGM Mirage , will be the first new addition to the New Jersey resort in more than a decade.

"…Once the hotel-casino begins operations, [Borgata Chief Executive Robert Boughner ] said the Borgata's cash flow will be within the top quartile of other Atlantic City casinos. He said executives expect room occupancy north of 90 percent in the first year.

"…`People in the marketplace know there is significant untapped potential here,' Boughner said. `Every level of the market is ready to trade up from the whitest collar to the bluest collar.'…"

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