You’ve seen it from the Expressway. That massive, shimmering gold tower that looks like it was plucked straight out of the Bellagio’s neighborhood and dropped into the salt marshes of New Jersey. It’s the Borgata. For over two decades, it has basically been the king of the hill in the Marina District, consistently out-earning every other casino on the Boardwalk.
But if you’re standing on the casino floor wondering who actually signs the paychecks for those 5,000 employees, the answer is a little more "corporate chess" than you might expect.
Honestly, the ownership structure of Atlantic City’s crown jewel has changed more than people realize. It’s not just one name on a deed anymore.
Who Owns Borgata in Atlantic City Right Now?
Let's get the straight answer out of the way first. As of 2026, VICI Properties Inc. owns the actual land and the buildings (the "dirt," as they say in the industry), while MGM Resorts International owns the business and runs the whole show.
It’s a landlord-tenant relationship, but on a massive, multi-billion-dollar scale.
MGM Resorts International operates the Borgata as a wholly-owned subsidiary. When you see the "MGM Rewards" signs or use your BetMGM app in the sportsbook, that’s why. They are the ones responsible for the gambling, the food, the entertainment, and that famous "Borgata glow."
VICI Properties, on the other hand, is a Real Estate Investment Trust (REIT). They bought the physical assets in 2022 when they swallowed up MGM Growth Properties (MGP). So, MGM pays rent to VICI, and VICI collects the checks while MGM handles the rowdy bachelorette parties and the high-stakes poker room.
👉 See also: Blue Protocol Star Resonance Shield Knight Skill Tree: What Most People Get Wrong
The $900 Million Power Move
It wasn’t always this way. For a long time, the Borgata was a "child of two parents."
When the place opened in 2003, it was a 50/50 joint venture between Boyd Gaming and MGM Mirage (which we now know as MGM Resorts). Boyd was actually the managing partner back then. They were the ones who built the culture that made Borgata "the" place to be.
But in 2016, MGM decided they wanted the whole pie. They paid Boyd Gaming $900 million to buy out their half. It was a massive deal that signaled MGM was finally going all-in on Atlantic City after years of flirting with the idea of leaving the Jersey Shore behind.
Why the Ownership Split Matters to You
You might think, "Who cares who owns the land as long as the slots pay out?"
Fair point. But the shift to MGM’s full control changed the vibe. Before the buyout, Borgata felt like a standalone boutique brand. It was "Borgata," not "MGM Atlantic City."
Once MGM took the reins, they integrated the property into their global ecosystem. This meant:
✨ Don't miss: Daily Jumble in Color: Why This Retro Puzzle Still Hits Different
- The Rewards Transition: Your "My Borgata" rewards eventually became MGM Rewards (formerly M life).
- The Water Club Rebrand: That sleek second tower, The Water Club? It’s now officially the MGM Tower at Borgata. They dumped $55 million into it recently just to make sure it felt like a true MGM luxury product.
- BetMGM Integration: The old racebook turned into a state-of-the-art BetMGM Sportsbook & Bar.
Basically, if you’re a regular in Las Vegas, your status at the MGM Grand or Aria now carries weight in Atlantic City. That wouldn't have happened under the old Boyd partnership.
The Drama You Probably Forgot
There was a time when MGM almost lost the Borgata entirely. Like, they were literally packed and ready to move out.
Back in 2010, the New Jersey Division of Gaming Enforcement (DGE) got into a huge fight with MGM over their partnership in Macau with Pansy Ho. The Jersey regulators weren't fans of her father, Stanley Ho, and basically told MGM: "It's her or us."
MGM actually chose Macau. They put their 50% stake in Borgata into a divestiture trust and prepared to sell it. For a few years, the premier casino in Atlantic City was technically "for sale" because of a regulatory spat happening halfway across the world.
Eventually, things cooled down. MGM restructured their deal in Macau, New Jersey regulators gave them a thumbs up in 2014, and by 2016, MGM wasn't just staying—they were buying the whole building.
Current Leadership: Who’s Calling the Shots?
While VICI and MGM are the corporate overlords, the day-to-day "boss" in Atlantic City is Niklas Rytterstrom.
🔗 Read more: Cheapest Pokemon Pack: How to Rip for Under $4 in 2026
He took over as President and COO in early 2024, moving over from The Cosmopolitan in Vegas. It’s a big job. He’s the one tasked with keeping Borgata ahead of Hard Rock and Ocean, which have both been chipping away at Borgata’s dominance over the last few years.
What’s Next for the Gold Giant?
Don't expect another ownership change anytime soon. The "Triple-Net Lease" agreement between MGM and VICI is built to last decades.
What you should expect is more "MGM-ification." They are leaning hard into the "MGM Collection with Marriott Bonvoy" partnership. This means if you’re a Marriott person, you can now use points to stay at Borgata. It’s a smart move to pull in travelers from New York and Philly who might usually stay at a Westin or a Sheraton.
Actionable Insights for Your Next Visit
If you’re heading down to the Marina District, keep these tips in mind regarding the current ownership:
- Sync Your Apps: Since MGM is the sole operator, make sure your MGM Rewards app is updated. You can often find "tier-match" promos if you have status with other Atlantic City casinos like Hard Rock or Ocean.
- Check the MGM Tower: If you haven't stayed in the "Water Club" since it became the MGM Tower, it’s worth a look. The 2023-2024 renovations updated the rooms to a much more modern, "Vegas-lite" aesthetic.
- Use Your Marriott Points: Seriously. If you’re a Marriott Bonvoy member, check the redemption rates for Borgata. It’s often one of the best "value-per-point" stays in the Northeast, especially on weeknights.
- Sportsbook Perks: If you use the BetMGM app, you can often earn rewards points on your phone that you can spend on dinner at the Old Homestead or Bobby Flay Steak (well, it’s B-Prime now, but you get the idea).
Ownership of the Borgata isn't just a trivia fact—it's the reason the casino stays at the top of the food chain. Whether it’s MGM’s massive marketing budget or VICI’s stable real estate backing, the "Gold Glass" isn't going anywhere.