In 2020, Eldorado Resorts and Caesars Entertainment were working through the particulars of a pending merger. One of the biggest issues at hand was gaining regulatory approval from the various state gaming commissions involved in this deal.
Case in point was the New Jersey Casino Control Commission. One condition to gain regulatory approval in the Garden State was the sale of Bally’s Atlantic City. That led to the formation of Bally’s Corporation in a separate deal where Caesars sold off the entire brand name.
The other major condition for state approval was capital investments in three other Atlantic City gaming venues. The new Caesars Entertainment that emerged from the deal with Eldorado Resorts owns and operates Caesars, Harrah’s and Tropicana casinos in this South Jersey gaming town.
Making Good on Caesars’ Atlantic City Investment Pledge
Heading into the second half of 2022, the company continues to make good on its capital improvement plans. The total investment into the three Atlantic City casino resorts adds up to $400 million. The initial upgrades to all three properties have been underway for the past two years.
However, Caesars Entertainment recently announced that $200 million will be spent on the company’s flagship brand. Caesars Atlantic City was first opened to the public in 1979. This was one of the original gaming venues to open when casino gambling first came to the famed AC Boardwalk.
Resorts Casino led the way in 1978 as a fixture on the coastal town’s iconic Boardwalk. New Jersey voters legalized commercial casino gambling for Atlantic City in 1976.
John Koster is the regional president of Caesars Entertainment’s Eastern Division. He made the following comments in an Associated Press release:
“This major investment demonstrates our ongoing commitment to elevating guests’ experiences at our resorts as well as advancing the Atlantic City tourism economy.”
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Caesars Atlantic City Renovation Plans
A portion of the total $200 million investment has already bee spent updating the 750-room hotel. This includes both the guestrooms and suites at Caesars Atlantic City. The property has maintained its Roman theme to stay consistent with the Caesars’ brand.
With the hotel renovation complete, Koster mentioned that the next phase of the project will focus on the casino floor. The current setup of slots and table games is expected to remain the same. Most of the project involves a complete overall of the casino lobby entrance.
Other planned projects are geared towards renovating the properties rooftop pool. The addition of two new celebrity chef restaurants will expand the casino’s dining options. Gordan Ramsay will open his first Hell’s Kitchen East Coast location at Caesars Atlantic City.
The other famed restaurant concept is Nobu. This is a collaboration between celebrity chef Nobu Matsuhisa and famous film star Robert De Niro. Also part of the plan is a rebrand of the top three floors of the hotel as Nobu Hotel Atlantic City.
Caesars will also invest in Harrah’s Marina District location. This property sits across from MGM Resorts’ Borgata as the biggest casino operator in Atlantic City. The Tropicana underwent major renovations before the 2020 merger.
