Caesars Entertainment Moves To Spend $400 Million To Boost Its Services

Caesars Entertainment has revealed plans for its three Atlantic City casinos which involve splashing $400 million on making its gaming hubs more attractive.

The capital expenditure plan will include remodeling room towers, building new restaurants and amenities, and enhancements to the casino floors.

Caesars said, “these developments will bolster the city’s position as a Las Vegas-style destination market with a focus on revitalizing the world-famous Atlantic City Boardwalk.”

The first phase of the project looks to spend $170 million on the renovation of nearly 600 guestrooms and suites at Caesars and Harrahs. This part is expected to debut by summer 2021. The entire $400 million master plan is expected to be completed in 2023.

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Anthony Carano, COO and president of Caesars Entertainment, said the company remains “bullish on Atlantic City.”

Carano added, “this commitment will further position us for long-term growth and success.”

“Building on our rich, 40-year legacy in the market, we are excited to introduce the new Caesars Entertainment to Atlantic City through our $400 million investment and development plan,” Carano said. “These exciting plans over the next three years will revitalize Caesars’ brand of hospitality, and will continue to position Harrah’s, Tropicana, and Caesars Atlantic City as leading resorts in the market.”

NJ Governor Murphy is in on the investment plan as Atlantic City looks to recover from the shock of the pandemic. According to the governor, multiple public and private stakeholders have partnered together, “in an effort to re-establish Atlantic City as a premier tourist destination in New Jersey.”

“My administration has teamed up with corporate, community and government partners in an effort to re-establish Atlantic City as a premier tourist destination in New Jersey,” said Governor Phil Murphy. “This $400 million investment in the city supports our focus on growing the economy, continuing to support Atlantic City, and creating jobs in our state, and I applaud Caesars Entertainment for leading the recovery effort.”

“Caesars Entertainment is the country’s largest gaming company, and we are thrilled that Atlantic City is home to three of their casinos,” said Atlantic City Mayor Marty Small, Sr. “This year marks a new era for the City, and we appreciate Caesars’ dedication to the market as the largest employer in Atlantic County. Their three-year reinvestment plan doubles down on this commitment, which will undoubtedly reinvigorate Atlantic City.”

Atlantic City Mayor Marty Small Sr., said 2021 represented a “new era” for the city and expressed appreciation for “Caesars’ dedication to the market as the largest employer in Atlantic County.”

“… Their three-year reinvestment plan doubles down on this commitment, which will undoubtedly reinvigorate Atlantic City,” said Small.

In 2020, Caesars Entertainment reached an agreement with the NJ Casino Control Commission to spend $150 million of the total $400 capital expenditure in developing its Caesars Atlantic City assets.

Starting this summer, the Caesars’ Centurion and Ocean Towers will be redone with new designs featuring a modern Roman aesthetic.

With renovations kicking off soon, customers can expect a more luxurious feel to the property. The Atrium Tower at Harrah will reflect the resort’s sophisticated Marina District when renovations are concluded.

While there are not many details to work with, Caesars Entertainment will reveal more details in the coming months. The information released to the public will be subject to the New Jersey Division of Gaming Enforcement approval. The regulator has been keeping a watchful eye on all land-based and online casinos ensuring legal practices and fair competition which is one of the reasons why New Jersey ranks as one of the leading gaming markets in the US.

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