Marina District Development Company, LLC owns and operates the Borgata Hotel Casino and Spa, including The Water Club at Borgata in Atlantic City, New Jersey. Its 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. The company’s 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. Its property also contains approximately 88,000 square feet of meeting and event space, and 2 entertainment venues. The company...
One Borgata Way
Atlantic City, NJ 08401
Founded in 1998
Borgata Reports Revenue Results for the Month of February 2013
Mar 21 13
Borgata reported revenue results for the month of February 2013. For the month, the company's net slot revenue was $26,078,047.
Marina District Finance Company, Inc. Enters into Second Amendment to Credit Agreement with Marina District Development Company
Dec 28 12
On December 27, 2012, Marina District Finance Company, Inc. entered into the Second Amendment to Credit Agreement among the company, Marina District Development Company LLC certain financial institutions and Wells Fargo Bank, National Association as administrative agent for the Lenders. The Amendment amends certain terms of the Credit Agreement dated as of August 6, 2010 among the Credit Parties, the lenders from time to time party thereto, the Administrative Agent, and Wells Fargo, as L/C Issuer and Swing Line Lender.
Borgata Announces Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2012
Nov 1 12
Borgata announced consolidated earnings results for the third quarter and nine months ended September 30, 2012. The company reported third-quarter 2012 net revenues of $187.1 million, compared to $202.0 million in the third quarter of 2011. Adjusted EBITDA at the property was $33.4 million, compared to $50.3 million in the year ago quarter. The declines were primarily the result of lower table game hold percentage and volume. Operating income was $18,667,000 against $4,771,000 a year ago. Loss before income taxes was $2,088,000 against income before income taxes of $13,830,000 a year ago. Net loss was $2,051,000 against net income of $12,338,000 a year ago.
Borgata reported net revenues of $538.7 million, compared to $553.9 million in the year ago period, while Adjusted EBITDA was $103.0 million, compared to $120.6 million in the nine months of 2011. Net loss was $2.9 million for the nine months ended September 30, 2012, or $0.10 per share. By comparison, a net loss of $3.4 million, or $0.04 per share, for the nine months ended September 30, 2011. Operating income was $59,087,000 against $63,838,000 a year ago. Loss before income taxes was $2,798,000 against income before income taxes of $4,286,000 a year ago. Net loss was $2,934,000 against net income of $3,285,000 a year ago.