Marina District Development

Marina District Development Company, LLC
Former type	LLC Partnership
Industry	Gambling, Hotels, Entertainment
Fate	Purchased outright by MGM Resorts International
Successor	Borgata Hotel Casino & Spa, LLC.
Founded	2003 (2003)
Defunct	August 1, 2016 (August 1, 2016)
Headquarters	1 Borgata Way, Atlantic City, New Jersey, United States
Products	Casinos, Hotels
Owner	Boyd Gaming MGM Resorts International

The Marina District Development Company, LLC was a joint venture of Boyd Gaming Corporation and MGM Resorts International^[1] that was established to develop and operate the Borgata Hotel Casino and Spa in Atlantic City, New Jersey.

History

After a competitive process, MGM Mirage was selected as the lead developer of government-owned vacant property in the "H-Tract" area, later renamed Renaissance Pointe. MGM Mirage sought the participation of Boyd Gaming, which became the operating partner of the Borgata.

Three casino-hotels were planned for Renaissance Pointe but only the Borgata has been built.

In early 2010, following the conclusion of an investigation by the New Jersey Casino Control Commission and the Division of Gaming Enforcement into the company's suitability as a casino licensee, executives at MGM announced that they would place their shares in MDDC into a special trust until they find a suitable buyer. In their investigation, the NJCCC and DGE alleged that Macau businesswoman Pansy Ho and her father Stanley have deep ties to criminal elements in Macau and mainland China, and therefore would not be suitable for licensing in New Jersey. The NJCCC gave MGM a choice of ending their relationship with Ho by selling their interest in the MGM Grand Macau, or facing revocation of their New Jersey casino license. On October 14, the New Jersey Casino Control Commission approved the $73 million sale of land underneath the Borgata to Vornado Realty Trust and Geyser Holdings as part of its exit strategy from Atlantic City.^[2] On September 10, 2014 the New Jersey Casino Control Commission approved MGM Resorts International's licensure to resume its 50 percent ownership stake in the partnership.^[3]

On August 1, 2016 MGM Resorts International completed the purchased of Boyd Gaming's 50 percent in Marina District Development and The Borgata for $900 million dollars.^[4] On that day MDDC ceased to exist and a new company Borgata Hotel Casino & Spa, LLC. was formed as a wholly owned subsidiary of MGM Resorts International.

References

Casinos and hotels in Atlantic City, New Jersey

Casinos

Boardwalk	Bally's Caesars Resorts Tropicana

Marina	Borgata Golden Nugget Harrah's

Canceled	Camelot Dunes Hard Rock MGM Grand Penthouse Pinnacle Atlantic City Sahara Other

Former	Atlantic Club Claridge Revel Sands Showboat Trump Plaza Trump Taj Mahal Trump World's Fair Playboy Club

Owners	Caesars Entertainment DGMB Casinos Landry's MGM Resorts Tropicana Entertainment Trump Entertainment

Hotels

Boardwalk	Atlantic Palace The Chelsea Madison Courtyard by Marriott Flagship Resort Atlantic City Wyndham Skyline Tower

Marina	The Water Club

Non-Casino Hotels	The Claridge Hotel Howard Johnson Sheraton Showboat

Former	Ambassador Breakers Brighton Chalfonte-Haddon Hall Dennis Holiday Inn Marlborough-Blenheim Mayflower President Ritz-Carlton St. Charles Sea-View Senator Shelburne Traymore United States

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