Online Gambling News the way they are!
   Web        OGpaper portal          

The Hilton Casino in Atlantic City plans $1billion expansion

A new expansion plan of Hilton Casino Resort in Atlantic City, NJ had surfaced during the testimony Wednesday before the state Casino Control Commission, which renewed the casino's five-year operating license.

Hilton Casino Resort in Atlantic CityAccording to the plan, Hilton Casino Resort would invest over $1 billion into the building of a new tower to the resort, and expansion of its casino floor to 120,000 square feet. According to Tony Rodio, regional president of the Hilton, the resort is turning away over 35,000 every month because of the lack of rooms, and this plan would enable the resort to capitalize on the otherwise lost clientele.

The plan has not yet been approved by the Hilton Casino Resort's parent company - Resorts International Holdings, and a presentation is scheduled to take place in Las Vegas on the 24th this month to convince the owners of the possible future benefit of the pricey expansion.

Although Hilton Casino Resort saw increasing profits in 2006 by nearly 79%, there is another casino in the process of being built close to the Hilton, which may in the future be a strong competitor in the already quite crowded Atlantic City. However, last year Hilton had the highest average occupancy rate of all the 11 casinos in NJ, which would help in "selling" the new plan in front of the parent company's board.


Related news:

 Atlantic City casinos 3/4 smoke free
 California approves state casino gambling expansion bill




Copyright 2005 © . All rights reserved.