After the tunnel was a done deal, Wynn, on a larger scale, failed to withstand a takeover move of his Mirage Resorts by the Kirk Kerkorian-led MGM Grand Resorts. The resulting MGM Mirage is a casino industry juggernaut that is already moving ahead with its Borgata resort in Marina District, a joint venture with Boyd Gaming

For earlier story, click on:Boyd Gaming and MGM Mirage Break Ground for $1 Bil Resort

Now, MGM Mirage wants more--the company is said to be in the early design phases for yet another casino-hotel-resort property here, to be located on land it owns immediately adjacent to the Borgata site. According to MGM Mirage chairman Terry Lanni, his company will disclose the size, theme and budget for the new resort "once the design phase is completed. We have been taking a close look at the options and have determined that the Atlantic City site is our most attractive near-term investment opportunity."

Atlantic City has taken its hits over the years--both verbal and economic--but MGM Mirage's announcement that it will expand its presence is being taken locally as a solid endorsement. "This kind of announcement is exactly what we need," according to one local official who did not want to be identified. "I know that we have been criticized for the fact that Atlantic City's redevelopment hasn't progressed as far beyond the boardwalk as we would like, but this announcement gives us yet another reason to keep moving forward."

No timetable has been set for development of the newest MGM Mirage property.

Instant Insights /

MGM Mirage Looks at Expanding Atlantic City Presence

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