Posted on: February 26, 2024, 03:40h.
Last updated on: February 26, 2024, 03:40h.
Golden Nugget Atlantic City is embarking on a multimillion-dollar renovation of the Marina District property.
Owned and operated by billionaire Tilman Fertitta’s Houston-based Landry’s, officials with the Golden Nugget in Atlantic City announced last week that the resort’s approximately 700 hotel guestrooms are being refreshed. Saying the project will deliver “transformative hotel upgrades,” property General Manager Tom Pohlman revealed the investment includes new furnishings, fully remodeled bathrooms with glass-enclosed walk-in showers, and updated floor corridors.
We are eager to launch this new, multi-phased hotel renovation project for our Atlantic City casino property,” said Pohlman. “We are excited to continue to enhance our property and unveil a refreshed and elevated room product that guests will enjoy.”
A release explained that the room renovations encompass numerous interior enhancements such as designer furniture and lounge seating in “soothing neutral tones” and accent lighting scones. Bedside convenience installations are also planned, including integrated USB and USB-C outlets.
Marina Makeovers
Golden Nugget Atlantic City’s room renovations come after the casino updated several restaurant and meeting spaces.
The resort’s Chart House, one of Landry’s luxury restaurant brands, recently underwent a design refresh, and a Dos Caminos opened at the property last July. Golden Nugget’s meeting spaces, the casino’s release added, were also recently upgraded.
Landry’s investments into its Golden Nugget Atlantic City destination, which opened as Trump’s Castle in 1985 and was later known as Trump Marina, comes after the casino’s two neighbors underwent major renovations.
MGM Resorts last year completed a $55 million makeover of Borgata that resulted in the newly branded MGM Tower. The former Water Club overhaul coincided with the casino’s 20th anniversary.
Before the pandemic, Caesars Entertainment spent $80 million on updating Harrah’s. The more than 900 guestrooms and suites were refreshed in what was a much-needed update.
Golden Nugget Seeks Rebound
Golden Nugget is the leading iGaming operator in New Jersey. Its online casino platforms generated gross gaming revenue (GGR) of about $524.8 million last year, or 27% of the $1.9 billion that the nine casinos won online from interactive slots and table games.
While its online operations have grown exponentially in recent years, Golden Nugget’s brick-and-mortar business has suffered.
The Golden Nugget’s physical casino floor reported GGR of about $219.7 million in 2017 — the last year before Hard Rock and Ocean opened. The competition poached play from the seven other casinos, including Golden Nugget, as the casino reported 2019 GGR of $199 million — a 9.4% reduction.
Retail play has further dwindled at Golden Nugget. The casino won $148.8 million in 2022 and $146.1 million last year.
The Nugget’s renovation could hint that Fertitta has changed his stance on Atlantic City. In 2019, the billionaire said the town likely isn’t capable of supporting nine casinos.
It’s not a nine-casino market. I don’t understand why nobody realizes that,” Fertitta said at the time.
Speaking of the Hard Rock and Ocean openings — formerly Trump Taj Mahal and Revel — Fertitta said those properties hired thousands of workers but “every other casino has had layoffs. I don’t know how big the net gain is.”
