Marina District Development Company, LLC owns and operates the Borgata Hotel Casino and Spa; and The Water Club at Borgata in Atlantic City, New Jersey. The company’s 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. Its Borgata hotel features 6 fine-dining restaurants, 6 casual dining restaurants, 8 quick dining options, 16 retail boutiques, 2 European-style spas, 2 nightclubs, and approximately 8,200 parking spaces, as well as contains approximately 88,000 square feet of meeting and event space, and 2 entertainment venues. The company was incorpor...
One Borgata Way
Atlantic City, NJ 08401
Founded in 1998
Borgata Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Full Year 2015
Apr 30 15
Borgata reported unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net revenues of $182.6 million, an increase of 9.2% from $167.3 million in revenues reported in the year-ago period. Adjusted EBITDA was $37.8 million, nearly doubling from $20.5 million in the year-ago period. Operating income was $23,350,000 against $6,322,000 a year ago. Income before state income taxes was $6,201,000 against loss before state income taxes of $11,368,000 a year ago. Net income was $8,028,000 against net loss of $10,664,000 a year ago.
The company provided earnings guidance for the full year 2015. For the period, the company expects adjusted EBITDA of $542 million to $567 million.
Marina District Development Company LLC Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for the First Quarter of 2015 and Full Year 2015
Feb 12 15
Marina District Development Company LLC reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net revenues of $179,147,000 compared to $157,128,000 a year ago. Operating income was $21,251,000 compared to operating loss of $1,749,000 a year ago. Income before state income taxes was $3,080,000 compared to loss before state income taxes of $44,505,000 a year ago. Net income was $2,634,000 compared to net loss of $40,765,000 a year ago. Adjusted EBITDA was $36,038,000 compared to $16,438,000 a year ago. Capital expenditures were $7 million during the quarter.
For the year, the company reported net revenues of $738,211,000 compared to $695,700,000 a year ago. Operating income was $98,606,000 compared to $46,111,000 a year ago. Income before state income taxes was $27,108,000 compared to loss before state income taxes of $61,080,000 a year ago. Net income was $23,709,000 compared to net loss of $56,577,000 a year ago. Adjusted EBITDA was $156,098,000 compared to $119,425,000 a year ago. Capital expenditures were $19 million.
The company provided earnings guidance for the first quarter of 2015 and full year 2015. For the full year, the company expects to spend approximately $40 million in capital, which includes recurring maintenance of $25 million and approximately $15 million for capital related to further property enhancements. Depreciation expected to be about $60 million. Interest expense should be about $65 million to $70 million.
For the first quarter of 2015 EBITDA of $33 million to $35 million.
Pala Interactive, LLC Announces Partnership with Borgata Hotel Casino & Spa
Nov 26 14
Pala Interactive, LLC and Borgata Hotel Casino & Spa have announced a partnership that will bring the Pala Interactive online gaming platform to the state of New Jersey. Pala Interactive has also been granted a Transactional Waiver by the New Jersey Division of Gaming Enforcement and will soon launch a real-money online gaming platform in New Jersey featuring both casino and poker.