Atlantic City to become world gambling resort
20th November, 2007
A string of new luxurious mega-casinos to be built by 2012 is set to transform Atlantic City into a futuristic gambling resort. At least four companies have committed to combining $9billion for the project, which aims to make Atlantic City a rival to Las Vegas, as somewhere to stay for gambling and more.
The first project to be unveiled is provided by Revel Entertainment Group (partnered with investment firm Morgan Stanley), with a $2billion casino-resort to be called ‘Revel’. It will open in 2010, and at 710 feet, it will be the tallest building in Atlantic City. With two thin towers standing facing the ocean, 3,900 rooms and Atlantic City’s first casino wedding chapel, it will be the first of the new ‘modern’ casinos. It will be the first casino to open since the Borgata Hotel Casino & Spa in 2003, taking the tally to 12 casinos in the city.
Other mega-casinos set to be unveiled include one built by Pinnacle Entertainment on the site of the former Sands Hotel Casino, and a $5billions project planned by MGM Mirage in the marina district. A possible fourth casino would be built near the Atlantic City Hilton Casino Resort by Curtis Bashaw, the former Casino Reinvestment chairman, or Wally Barr, formerly of Caesar’s Entertainment.
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