Resorts Casino Hotel in Atlantic City is undergoing a $9.4 million multi-faceted expansion of its convention space that will result in an additional 12,000 square feet of event space, including 11 new conference rooms. This expansion is part of the hotel's long-term property reinvestment plan, following the recent $35 million Jimmy Buffet-themed Margaritaville and nearly $70 million expansion and renovation of Resorts under the ownership of Morris Bailey. Construction is scheduled to begin in the first quarter of next year and is slated to be complete in the summer of 2015.
"This conference center expansion is the latest example of the company's reinvestment in the property and Atlantic City as a whole as we continue to strategize ways to revive and turnaround this market," says Bailey. "From the growing demand for additional conference space from a new niche audience to the increasing popularity of Margaritaville, Resorts is showing a positive return on investment as a successful destination location on the East Coast."
The latest quarterly earnings show Resorts is operating with consistent gains in profit with gross operating profit up $4.2 million in the third quarter, nearly a 600 percent increase from the same period last year. "This expansion plan furthers the repositioning of Resorts as the company continues to make smart investments that will transform the property into a more vibrant, profitable destination with offerings beyond casino gambling," says Mark Giannantonio, president and CEO of Resorts Casino Hotel. "As the only casino hotel in Atlantic City that boasts a dramatic floor to ceiling ocean view ballroom and Landshark Bar & Grill, a year-round beach event facility, we've already seen success in our meetings and convention business, with bookings up 46 percent over 2013. We're thrilled to leverage that success and build upon it with this expansion."
When the renovation is complete, Resorts, along with Jimmy Buffett's Margaritaville, will have more than 64,000 square feet of meeting and event space consisting of 27 conference and event rooms accommodating from 40 up to 1,350 guests.
Boasting a prime location spanning 11 acres at the northern end of the famed Atlantic City Boardwalk, the resort features 942 guest rooms and suites in two hotel towers, a 80,000 square-foot casino, two theaters, six restaurants, two VIP slot and table player lounges, a casino bar, indoor-outdoor swimming pool, health club and spa, salon, and retail shops. Resorts Casino Hotel has the distinction of bringing gaming to Atlantic City in 1978. Mohegan Gaming Advisors assumed management of Resorts Casino Hotel in the fall of 2012.