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Atlantic City's Borgata Attracts Younger Set

9 February 2004

NEW YORK -- As reported by the Reuters: ``Matt Goscky -- a regular at the Borgata, Atlantic City's newest casino -- is young, bets big and loses steadily. He might be just what that city needs.

```I usually come here about once a month, and lose $1000 each time,' Goscky, 22, said.

``…The billion-dollar, 43-story Borgata Hotel Casino & Spa dominates the skyline of once-fading Atlantic City. The first new casino to be built there in 13 years, it is luring a significantly younger crowd than the 55-plus players the East Coast resort city has generally attracted since gambling was legalized in 1977.

``…Twenty-somethings who previously "rejected" Atlantic City, now huddle around gaming tables in trendy attire, sipping martinis and guzzling name-brand beer.

``…Casino executives pride themselves on appealing to a younger crowd.

``The strategy seems to be working. The Borgata, which opened in late July in Atlantic City's Marina District, increased its profit margins to 23.9 percent this quarter from 20.4 percent in its opening quarter.

``…Even with all its successes, the Borgata has encountered some problems. Some customers have complained that service is not up to par. Some analysts fear that Borgata, by drawing visitors away from the other casinos, might cannibalize the Atlantic City market, and older patrons say they feel alienated by the youth-oriented atmosphere…"

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