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October 11, 2007

$5B mega-casino set for Atlantic City

ATLANTIC CITY (AP) — MGM Mirage Inc. said Wednesday it will spend up to $5 billion to build a massive casino resort whose three towers will dominate the Atlantic City skyline and lift the level of luxury in a city hit hard by competition from slots parlors across the Northeast.

The 3,000-room resort, planned to open in 2012, is part of a gamble by casino operators to reverse what is expected to be the first decline in casino revenue in Atlantic City in 29 years by polishing its image in an attempt to lure more affluent visitors.


 
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