Posted October 16, 2010
The Borgata Hotel Casino and Spa in Atlantic City has received a new license for its operation. This license, which was granted to the casino by the New Jersey Casino Control Commission, will last for five years.
The casino license will work to allow the casino to continue to legally operate in Atlantic City. This is a continuation of a prior agreement that also lasted five years. The casino has worked as one of the top casinos in the city over the past few years and is looking to maintain its top position among casinos in Atlantic City.
The license comes upon news that the fifty percent stake that MGM has in the casino is up for sale. The stake that MGM is offering will still be available to all potential buyers as the new license is put into effect. The license will not impact Boyd Gaming, the agency that owns the other fifty percent of the casino.
The Borgata will work to continue to operate despite the casino losing revenues along with other casinos in Atlantic City. Increased competition from table games in Pennsylvania and the expansion of gambling around Delaware has harmed Atlantic City’s casino revenues in recent months.
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