MGM Resorts promotes longtime executive to Borgata's top Atlantic City job
MGM Resorts International has launched one of its resorts, ushering in a new chapter for Borgata in Atlantic City.
MGM announced Monday that Niklas Rytterstrom will succeed Travis Lunn as president and chief operating officer of Borgata. Lunn recently announced his return to Las Vegas to lead operations in Mandalay Bay and Luxor.
"Nick has a long history with MGM Resorts and brings a wealth of operational experience and industry knowledge to the hotel and Atlantic City," said Steve Zanella, president of operations for MGM Resorts. "Nick brings strong leadership and strategic vision to the hotel and Atlantic City. will continue to differentiate Borgata in the competitive environment and solidify its position as the market leader."
The Marina District integrated resort opened in July 2003 and was developed by MGM in a joint venture with Boyd Gaming. MGM bought Boyd's 50% stake in the property in 2016 for $900 million.
Vici Properties, a real estate investment trust controlled by MGM rival Caesars Entertainment, acquired the resort's physical assets following its 2022 purchase of MGM's REIT (MGM Growth Properties). MGM leases the Borgata business from Vici.
Promoted from within
After graduating from UNLV with a degree in hotel management, Rytterstrom joined MGM Resorts in 1999 as an assistant hotel manager at the Bellagio. In 2005, MGM transferred him to Mississippi, where he moved into management as vice president of hotel operations for the Beau Rivage, leading the Gulf Coast hotel for more than six years.
Rytterstrom next served as Riverboat General Manager on the Gold Strike in Tunica. After working there for three and a half years, he moved back to Las Vegas, where he managed the Luxor for more than three years. He became president and chief operating officer of The Mirage in 2019, before spending two years at The Cosmopolitan.
With his impressive track record, Rytterstrom is ready for Borgata, undoubtedly his biggest role to date.
“It’s an honor to begin this new journey at the Borgata. The property is an integral part of the Atlantic City community and I can’t wait to join and continue to help advance this amazing city and the state of New Jersey and beyond,” said Rytterstrom. region’s growth and success. ".
Atlantic City Leader
One of the most important and profitable resorts outside of Las Vegas, Borgata has dominated Atlantic City's gambling industry since its opening.
Borgata was again the casino's top earner last year, according to a report from the New Jersey Division of Gaming Enforcement (DGE). Borgata's land-based casinos generated nearly $729.7 million in gross gaming revenue, accounting for approximately 26% of the nine-casino market's total revenue.
Borgata reported total operating income of $178.1 million for the final three quarters of 2023. Hard Rock Group came in second with $97 million in revenue.
The Borgata completed a $55 million renovation last year that resulted in the water club being renamed the MGM Tower. The project includes the modernization of all 700 guest rooms and suites.
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Source: www.casino.org
