"We are excited about what the Water Club and the Blue Chiphotel developments will mean to our businesses in those markets,"says Boyd Gaming president Keith Smith in a statement, with thelatter a reference to the company's new casino hotel in Indiana.Boyd co-owns the Borgata with MGM Mirage and is the property'smanaging partner.

"The new additions will elevate each of the respective brands aswe face increasing competition in both markets," Smith says. Thenew $400-million, 43-story tower will cap a two-phase, $600-millionexpansion to the original Borgata, and will effectively build outthe site. Begun in early 2006, this latestphase will boost the hotel's room count to 2,800.

And with a separate front desk, the Water Club will effectivelyoperate as a separate hotel. To the overall Borgata mix, it willadd five swimming pools, a new spa, 18,000 sf of meeting space anda half-dozen upscale retail shops.

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