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Borgata Exceeds Expectations

ATLANTIC CITY – As reported by the Press of Atlantic City: " The Las Vegas-style megaresort that was supposed to vault Atlantic City into the major leagues of gambling has lived up to its hype and dramatically exceeded financial projections in its first year of operation.

"As promised, the billion-dollar Borgata Hotel Casino & Spa expanded the market instead of just stealing business from its competitors and racked up some impressive numbers along the way, company officials told state gaming regulators Wednesday.

"'All in all, we think it's been a great first year for Borgata,' said William S. Boyd, chairman and chief executive officer of Boyd Gaming Corp., Borgata's parent company.

"Impressed by Borgata's financial stability, the Casino Control Commission voted unanimously to grant the casino another one-year license. New casinos are licensed annually in their first three years of operation, while older gaming halls are usually given four-year licenses.

"Borgata executives said the casino's performance has been so strong that expansion plans are already being drawn up for 500,000 square feet of new restaurants, bars, retail space and table games.

"…Borgata was the first new Atlantic City casino in 13 years when it opened to great expectations on July 2, 2003. It has distinguished itself from its competitors by offering upscale amenities, scantily clad 'Borgata Babes' and a hipper image that appeals to a younger, free-spending crowd…"

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