![]() Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter! |
Gaming News
$1 Billion Resort Approved for New Jersey7 January 2000MGM Grand Inc. of Las Vegas received unanimous approval from the Atlantic City City Council on Wednesday to build a $1 billion resort in the New Jersey city. A development agreement requires MGM to provide $11.3 million for road improvements that will allow traffic to bypass stoplights between the casino and the Atlantic City expressway. MGM will also have to pay $850,000 for two small streets that will be demolished during construction. "It's certainly a major milestone," said Kenneth Rosevear, president of development for MGM Grand. "It sends a very strong signal that they want us to go ahead. It's been a long process, but we're gratified the council was so receptive." The casino will be built on a 40-acre Boardwalk site located near Atlantic City's Garden Pier. MGM has spent more than $50 million acquiring land for the casino, first announced in 1996. Construction of the property isn't expected to begin for more than three years. |