Caesars Entertainment has committed to an investment of $400 million for its Atlantic City casinos by 2023. The first phase will spend $170 million to renovate rooms at Caesars Atlantic City and Harrah’s Atlantic City with a completion date sometime in the summer. Additional investments will offer new restaurants and entertainment options with further announcements in the future. New Jersey regulators had made an increased investment in the properties a requirement when they approved the purchase of Caesars by Eldorado Resorts last year.
“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,” said Anthony Carano, president and chief operating officer of Caesars Entertainment. “These plans will revitalize Caesars’ brand of hospitality, and will continue to position Harrah’s, Tropicana, and Caesars Atlantic City as leading resorts in the market. We remain bullish on Atlantic City.”
Atlantic City Mayor Marty Small, Sr. called the program part of a new era in the city. “We appreciate Caesars’ dedication to the market as the largest employer in Atlantic County. Their three-year reinvestment plan doubles down on this commitment.”
