Tropicana, Borgata reinvesting millions into casinos, hotels
Two of Atlantic City's top casinos are reinvesting tens of millions of dollars into their gambling areas, hotels and entertainment venues.
The Tropicana on Thursday announced a $25 million renovation that will re-do 500 hotel rooms in its Havana Tower; remake the South Tower casino area, and add a high-limit slot area just off the casino's Palm Walk.
The work also will include a face lift for Jade Palace, its Asian gambling room, and it will add five new shows to the Tropicana's outdoor multimedia light and sound show this summer.
The Tropicana also spent an additional $50 million on renovations last year.
"Tropicana recognizes the importance of continuing to invest in both our gaming and nongaming amenities," said casino president Tony Rodio. "These renovations are not only attractive upgrades for Tropicana's guests, they are creating new employment opportunities at a crucial time in Atlantic City."
The Tropicana announcement came two days after the Borgata announced it is spending $50 million on projects this year, including an outdoor pool where its short-lived Borgata Festival Park was last year. The 3,200-square-foot pool can be used for swimming during the day, and as an entertainment gathering spot at night.
The Borgata's projects include a new nightclub this spring, and new meeting and conference space in the fall. Others that were previously announced include a new restaurant with celebrity chef Michael Symon.
The investments are seen as essential to surviving and thriving in the cutthroat gambling market in Atlantic City and the northeastern U.S.
"Our aggressive nature is such that, not only are we debuting a brand new nightclub, restaurant, and outdoor pool, we are spending an additional $12.5 million in maintenance capital annually," said Joe Lupo, the Borgata's senior vice president. "I can confidently say that no one else in this market is making that type of commitment to its product."
The Borgata and Tropicana have been among the most diligent about reinvesting in their properties lately. They ranked first and third, respectively, last year in Atlantic City in terms of casino revenue.
Other major casino projects recently completed include a new conference center at Harrah's, and new meeting space at Resorts.
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