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Borgata Chief: New Casino Will Grow AC Market12 February 2003ATLANTIC CITY – As reported by the Associated Press: ``The first new hotel-casino in Atlantic City in 13 years will ultimately mean business for other casinos, too, even if they lose gamblers and employees to it in the short term, its chief executive predicted Tuesday. ``The Borgata, a $1 billion colossus slated to open this summer, will bring a dramatic new product to the Atlantic City market, generating visits by gamblers and others who don't normally venture there, according to CEO Robert Boughner. ```In our business, historically, new supply has created new demand. We absolutely believe that will to be the case here,' he said in an interview with The Associated Press. ``…In a wide-ranging interview with AP correspondents and editors, Boughner also predicted Gov. James E. McGreevey's plans to impose new taxes on the casino industry will not be approved as proposed and said New Jersey would make a mistake if it permitted slot machines or video lottery terminals at the Meadowlands. ``…Though it is months from opening, it is already cutting into its competitors' business: Of the 35,000 people who have applied for Borgata jobs, about 15,000 are employed by Atlantic City's existing 11 casinos. ``…Gamblers will likely follow suit in flocking to the new game in town…" |