April 17, 2014 5:53 AM ET

Hotels, Restaurants and Leisure

Company Overview of Marina District Development Company LLC

Company Overview

Marina District Development Company, LLC owns and operates the Borgata Hotel Casino and Spa; and The Water Club at Borgata in Atlantic City, New Jersey. The company’s facilities include 160,000 square feet of casino, and 2,767 guest rooms and suites comprising 1,970 guest rooms and suites at the Borgata hotel, and 797 guest rooms and suites at The Water Club. Its Borgata hotel features 5 fine-dining restaurants, 6 casual dining restaurants, 8 quick dining options, 14 retail boutiques, 2 European-style spas, 2 nightclubs, and approximately 8,200 parking spaces, as well as contains approximately 88,000 square feet of meeting and event space, and 2 entertainment venues. The company was incorpor...

One Borgata Way

Atlantic City, NJ 08401

United States

Founded in 1998

5,833 Employees

Phone:

609-317-1000

Key Executives for Marina District Development Company LLC

President and Chief Operating Officer
Principal Financial Officer and Principal Accounting Officer
Age: 51
Director
Age: 52
Chief Administrative Officer and Senior Vice President of Operations
Vice President and General Counsel
Compensation as of Fiscal Year 2013.

Marina District Development Company LLC Key Developments

Borgata Revised Earnings Guidance for the Fourth Quarter of 2013

Boyd Gaming Corporation announced that it has updated Borgata guidance for the fourth quarter 2013. For the fourth quarter 2013, Boyd Gaming expects Borgata to report adjusted EBITDA of $15.0 million to $17.0 million compared to previous guidance of $22.0 million to $24.0 million. Borgata's fourth-quarter results were impacted by several short-term factors in December, including an unusually low hold percentage and severe winter weather during two weekends. Borgata's expected fourth-quarter performance and previously provided guidance do not include any meaningful impacts from online gaming.

Borgata Hotel Casino and Spa to Begin Online Gaming Testing in New Jersey

Boyd Gaming Corporation announced that Borgata Hotel Casino and Spa has received authorization from the New Jersey Division of Gaming Enforcement to begin a trial launch of its real-money online gaming product in New Jersey. Starting at 6 p.m. Eastern Time, Nov. 21, 2013, Borgata plans to commence a "soft play" period on its online gaming sites. Soft play on the sites will be limited to invited customers and certain qualified Borgata team members. Boyd Gaming's online gaming partner, bwin.party digital entertainment plc, will also begin testing of its online gaming sites at this time.

Borgata Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2013

Borgata reported unaudited earnings results for the second quarter and six months ended June 30, 2013. For the quarter, the company reported net revenues of $172,877,000 against $175,414,000 a year ago. Operating income was $7,188,000 against $16,771,000 a year ago. Loss from continuing operations before income taxes was $13,656,000 against $3,878,000 a year ago. Loss from continuing operations, net of tax was $12,735,000 against $3,472,000 a year ago. Net loss was $12,735,000 against $3,472,000 a year ago. For the six months, the company reported net revenues of $338,521,000 against $351,565,000 a year ago. Operating income was $19,651,000 against $40,420,000 a year ago. Loss from continuing operations before income taxes was $21,967,000 against $711,000 a year ago. Loss from continuing operations, net of tax was $20,534,000 against $883,000 a year ago. Net loss was $20,534,000 against $883,000 a year ago.

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