Gaming Strategy
Featured Stories
Legal News Financial News Casino Opening and Remodeling News Gaming Industry Executives Search News Subscribe
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Search Our Archive of Gaming Articles 

$1 Billion Resort Approved for New Jersey

7 January 2000

MGM 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.

< Gaming News