AC casino reinvestment projects add to summer season buzz

Matthew Fazelpoor//May 24, 2024//

AC casino reinvestment projects add to summer season buzz

Matthew Fazelpoor//May 24, 2024//

Listen to this article

As the summer season gets into full swing, there is a lot of excitement building in Atlantic City. A number of multimillion-dollar reinvestment and revitalization projects are taking shape in the city, along with a robust calendar of events and program slated for the season ahead.

As NJBIZ has extensively reported, casino operators are putting their money up – reinvesting in AC to further diversity its unique offerings. The investments come in the face of intense regional competition that will only ramp up in the coming years, especially from New York City. Additionally, are fighting to attract visitors to the resort in a post-pandemic world with a complicated economic picture amid the convenience of mobile gaming and sports betting.

Notable AC upgrades and upcoming events include:

Bally’s Casino Resort is marking its 45th Anniversary introducing new amenities and offerings, such as contemporary steakhouse Park Place Prime, which pays homage to its history; a new Legacy Lounge; and a newly remodeled High Limit Slot Room – in addition to 500 new slots.
Borgata Hotel Casino & Spa recently renovated Long Bar, Metropolitan, and will open the Maceoo boutique next month.
Since 2020, Caesars Entertainment has invested more than $400 million transforming its properties. This year it will open Buddy’s Boardwalk Empire, the newest venture from Buddy ‘Cake Boss’ Valastro, at Harrah’s.
Hard Rock Hotel & Casino Atlantic City is investing more than $30 million in its 2024 entertainment lineup.
Golden Nugget Atlantic City completed phase one of its multimillion-dollar renovation project, featuring new colors, furnishings, refreshed bathrooms and more.
Ocean Casino Resort has partnered with chef and restauranteur Michael Schulson to bring Pearl & Mary oyster bar and Samuel’s at Ocean to the property. It also partnered with BLADE to offer guests helicopter service directly from its rooftop helipad to New York City.
Resorts Casino Hotel renovated LandShark Bar & Grill, which opens May 24; Guy Fieri’s Chicken Guy, located on the boardwalk, will open next month.

 

Top headliners throughout the summer include: Chelsea Handler and Matteo Lane, John Legend, Jay Leno, Kansas, Kesha, Ludacris, Miranda Lambert, Patti LaBelle, Snoop Dogg and more.

Premier events are on tap too, such as:

  • Offshore Powerboat Association (OPA) Atlantic City Grand Prix | June 22
  • Jimmy Johnson’s Atlantic City ‘Quest for the Ring’ Championship Fishing Week | July 14-20
  • Visit Atlantic City Airshow | Aug. 13-14

 

These efforts build on other recent momentum and positive trends that were outlined in a new report. Lloyd D. Levenson Institute of Gaming, Hospitality, & Tourism (LIGHT) at Stockton University and the Casino Association of New Jersey (CANJ) collaborated on “2023 IMPACT: Atlantic City Casino Industry.”

Mark Giannantonio, president and CEO at Resorts Casino Hotel Atlantic City
Giannantonio

“Our casinos are committed to the ongoing transformation of Atlantic City, and we believe our continued investment in our properties and the community will further enhance the overall guest experience,” said CANJ President Mark Giannantonio. “With world-class entertainment, inviting beaches, endless dining and shopping options, and so much more, Atlantic City is the best getaway for visitors this summer.”

Ongoing transformation

This summer also looks to build on the strong start to the year. A solid first quarter included more than 14 meetings, conventions, and tradeshows, which generated 67,521 room nights booked and nearly 250,000 attendees, which resulted in an economic impact of nearly $60 million.

The Division of Gaming Enforcement’s First Quarter report released this week showed $769.9 million in net revenue for casino licensees. That marked a nearly 2% increase year over year, as well as a decrease in gross operating profit($155.4 million, down 8.7% year-over-year).

Larry Sieg, president of Meet AC
Sieg

Hotel occupancy rate was 64.8% with 902,092 total room nights occupied at an average of $164.20 per night.

“From gaming to dining, from conferences to beaches and from shopping to events, there is something exciting for everyone to experience here in Atlantic City,” said Larry Sieg, president and CEO, Visit Atlantic City and the Atlantic City Sports Commission. “We are seeing continued growth in our meetings and conventions, reinforcing our belief that Atlantic City must be the go-to seaside destination on the East Coast.”

NJBIZ recently caught up with Sieg to further discuss these topics, the season ahead and more. Stay tuned for more from that conversation as AC summer 2024 heats up.