MGM Resorts International has promoted one of its have to lead Borgata through and through its next chapter in Atlantic Ocean City.
MGM announced Mon that Niklas Rytterstrom is succeeding Travis Lunn in the role of Borgata chairwoman and chief operating officer. Lunn lately announced his return to Las Vegas to lead up the operations of Mandalay Bay and Luxor.
Nik has a long chronicle with MGM Resorts and brings a riches of operating(a) experience and industry knowledge to the attribute and Atlantic City,” said Steve Zanella, president of MGM Resorts Operations. “Nik’s warm leadership skills and strategical visual sensation will continue to differentiate Borgata inwards a militant landscape and enhance its view as a securities industry leader.”
Opened in July 2003, the Marina District integrated holiday resort was developed past MGM through and through a spliff venture with Boyd Gaming. MGM bought out Boyd’s 50% stakes inward the property inward 2016 for $900 million.
Vici Properties, the real demesne investment funds trustfulness controlled past MGM competitor Caesars Entertainment, acquired the resort’s physical assets after it purchased MGM’s REIT, MGM Growth Properties, in 2022. MGM leases Borgata’s operations from Vici.
Promote From Within
After graduating from UNLV with a hotel establishment degree, Rytterstrom united MGM Resorts inward 1999 as an help hotel manager at the Bellagio. He joined the executive ranks inwards 2005 when MGM moved him to MS for the vice chairwoman of hotel operations stance at the Beau Rivage where he led the Gulf Coast belongings for more than half-dozen years.
Rytterstrom next worked at the Gold Strike inwards Tunica as the riverboat’s superior general manager. After III and a half years there, he moved support to Las Vegas where he ran Luxor for o'er iii years. He became chair and COO of The Mirage inwards 2019 before a two-year scant at The Cosmopolitan.
His important cart track track record has Rytterstrom poised and ready for Borgata, unquestionably his biggest role yet.
“I’m honored to live embarking on this unexampled journey at Borgata. This dimension is an intact voice of the Atlantic Ocean City community, and i can’t waiting to jump inward and preserve to facilitate take maturation and success end-to-end not simply this amazing urban center but New Jersey and surrounding regions,” Rytterstrom said.
Atlantic City Leader
One of its most of import and profitable resorts out of doors of Las Vegas, Borgata has henpecked the Atlantic Ocean City gaming industry nearly since it opened.
According to reports from the New island of Jersey Division of Gaming Enforcement (DGE), Borgata endure year was over again the upper side gambling casino earner. Borgata’s brick-and-mortar casino generated gross gaming revenue of nearly $729.7 million or about 26% of the nine-casino market’s sum up land-based win.
Through threesome quarters of 2023, the most late disclosed figures, Borgata reported a gross operating gain of $178.1 million. Hard Rock was a distant secondment with a $97 jillion profit.
Borgata finished a $55 billion renovation utmost year that resulted in a rebranding of the Water Club to the MGM Tower. The externalize included updating all 700 guestrooms and suites.
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