The Borgata Wins Over Atlantic City

Editor's Note: This is the fourth and final article of a series looking at the changing face of Atlantic City's gaming industry.

The nine-month casino partnership between MGM Mirage (MGG Quote) and Boyd Gaming (BYD Quote) has given rise to a tide of construction across the Atlantic City Boardwalk, washing away the gaming mecca's somewhat salty reputation and replacing it with a Las Vegas veneer.

The Borgata is emblematic of the trend, bringing a decidedly upscale and sophisticated product to a marketplace that has been dominated by a now-dated gold-and-glitz aesthetic. And this place is no mere casino. It is a complex where customers can find a $41 kobe beef burger at Old Homestead, see the world's most expensive and exclusive single-malt Scotch whisky vintage collection, or spend an entire day at the world class spa upstairs -- if they can get in.

Business has been strong at the Borgata since it first opened nine months ago. The 200,000 square-foot hotel and casino, which is on the marina, away from the boardwalk, has had a dramatic effect on the Atlantic City market. In February, Atlantic City's dozen casinos generated $386.3 million in revenue, up 30.1% from last year, according to the New Jersey Casino Control Commission. Credit the strong results to the Borgata, which wasn't around last year and now accounts for 14.2% of the market's total revenue. ...