Caesars Entertainment laid out new details for the company’s planned $400 million investment at its three Atlantic City casinos.
The capital expenditure plan released Wednesday expands on testimony Caesars Entertainment executives gave to New Jersey gambling regulators last year before being approved to operate Caesars, Harrah’s Resort, and Tropicana.
Here are a few of the highlights included in the master plan:
- Remodeled room towers
- Enhancements to the casinos’ gaming floors
- New restaurants and amenities
Caesars said, “these developments will bolster the city’s position as a Las Vegas-style destination market with a focus on revitalizing the world-famous Atlantic City Boardwalk.”
The company said there will be a “focus on revitalizing,” Caesars Atlantic City.
The details were announced via press release.
The first phase of the project is a $170 million renovation of nearly 600 guestrooms and suites at Caesars and Harrah’s. And they’re targeted for a summer 2021 debut.
The entire $400 million investment is expected to be completed by 2023.
Caesars Entertainment: ‘We remain bullish on Atlantic City’
Anthony Carano, COO and president of Caesars Entertainment, said the company remains “bullish on Atlantic City.”
Carano added, “this commitment will further position us for long-term growth and success.”
“Building on our rich, 40-year legacy in the market, we are excited to introduce the new Caesars Entertainment to Atlantic City through our $400 million investment and development plan,” Carano said. “These exciting plans over the next three years will revitalize Caesars’ brand of hospitality, and will continue to position Harrah’s, Tropicana, and Caesars Atlantic City as leading resorts in the market.”
Murphy, Small agree Caesars’ investment big part of AC recovery
NJ Gov. Phil Murphy weighed on Wednesday’s announcement.
The governor said multiple public and private stakeholders have partnered together, “in an effort to re-establish Atlantic City as a premier tourist destination in New Jersey.”
Atlantic City Mayor Marty Small Sr., said 2021 represented a “new era” for the city and expressed appreciation for “Caesars’ dedication to the market as the largest employer in Atlantic County.”
“… Their three-year reinvestment plan doubles down on this commitment, which will undoubtedly reinvigorate Atlantic City,” said Small.
What we know, so far
In July 2020, Caesars Entertainment executives told the NJ Casino Control Commission that at least $150 million of the total $400 capital expenditure would be dedicated to Caesars Atlantic City.
The release noted that Caesars’ Centurion and Ocean Towers will be redone, beginning this summer.
According to Wednesday’s release, the designs will feature a modern Roman aesthetic, drawing inspiration from the local Atlantic City scenery, including the beach, ocean, and famed Boardwalk.
The renovations inside the Atrium Tower at Harrah’s will reflect the “resort’s sophisticated Marina District,” identity.
Harrah’s has also been teasing new dining concepts on social media.
While no new details were released Wednesday, the Harrah’s Twitter account promised something “crabsolutely,” scrumptious.