On the Boardwalk, Caesars Plan Mega $400 Million Refurb
Hot on the heels of acquiring Britain’s top William Hill brand for its online expertise, Caesars Entertainment is pumping money into its legacy bricks-and-mortar casino resorts in Atlantic City with a massive US$400 million (£287.55million/€331.31million) three-year investment plan.
America’s biggest gaming company, founded in Reno, Nevada, in 1937, is spreading its bets and laying a big time wager on an early end to Covid quarantines and a speedy return to traditional touch-and-feel, real-world action.
It already owns three resort casinos in the New Jersey gambling mecca – the eponymous Caesars, Harrah’s Resort and the Tropicana.
The company’s aim–incorporating up-scaled gaming floors, new restaurants and remodelled rooms and suites–is to re-invigorate the storied Atlantic City Boardwalk, bring back the glories and change it up to star Vegas billing.
The first phase of the project, a $US170-million (£122.20m/€140.81m) renovation of guest rooms and suites at Caesars and Harrah’s, starts in the summer.
“We’re building on our rich, 40-year legacy in the market,” said company president and COO Anthony Carano. These exciting plans will revitalize Caesars’ brand of hospitality.
“We remain bullish on Atlantic City, and this commitment will further position us for long-term growth and success.”
New Jersey State Gov. Phil Murphy, equally ebullient, said: “My administration has teamed up with corporate, community and government partners in an effort to re-establish Atlantic City as a premier tourist destination.
“This $400-million investment in the city supports our focus on growing the economy, continuing to support Atlantic City and creating jobs in our state, and I applaud Caesars Entertainment for leading the recovery effort.”
Atlantic City Mayor Marty Small Snr. concurred: “This marks a new era. The reinvestment plan will undoubtedly reinvigorate Atlantic City.”
Perhaps very soon, as the lyrics to the legendary song go: “On the Board Walk in Atlantic City we will, once again, walk in a dream. Life will be peaches and cream.”
