August 1, 2014
Casino giant MGM Mirage is announcing plans to develop a multibillion dollar resort casino that it says will change the skyline of Atlantic City, N.J.
MGM Grand Atlantic City will cost between $4.5 billion and $5 billion, not including the land value and associated expenses.
The project will be on a 72-acre site at Renaissance Pointe that the company owns.
That's adjacent to the Borgata Hotel Casino & Spa -- which MGM Mirage co-owns with Las Vegas-based Boyd Gaming Corp.
Plans call for the new resort to have three hotel towers with more than 3,000 rooms and suites -- including Atlantic City's tallest building.
The casino is to include 5,000 slot machines, 200 table games and a 1,500-seat theater.
Ground breaking is expected next year, with an anticipated opening in 2012.