Borgata Appoints Tom Ballance As New President

Borgata Appoints Tom Ballance As New PresidentThe Borgata in Atlantic City has just announced that Tom Ballance is to become the casino’s new President and CEO pending regulatory approval. Ballance is an industry heavyweight who had spent 17 years at Harrah’s Atlantic City before joining Borgata in 1998 as its Vice President of Development.
The Boyd Gaming Corporation owns and operates casinos throughout the US including the Borgata, and with the casino’s new appointment, it is hoped that the current president, Bob Boughner, will have more room in which to expand his managerial role within the corporation.
At the same time, it is hoped that Tom Ballance will help the Borgata further consolidate its competitive advantage over local rivals as he takes over the day-to-day running of New Jersey’s largest casino hotel, which boasts  2,000 guest rooms, as well as 4,000 slot machines and 200 table games.
Although the Borgata Hotel Casino has continued to be Atlantic City’s best performing casino with revenue hitting $55.3 million in September, that figure was actually 5.9% down on the same period last year. This trend is a reflection of the wider problems facing Atlantic City’s casino industry, which has been in decline since 2006 when it peaked at $5.2 billion and last year revenues had fallen to $3.3 billion.
Commenting on the latest appointments within the corporation, Boyd Gaming CEO Keith Smith, said: “Today’s announcement allows Boyd Gaming to fully leverage the skills of two talented executives..Bob [Boughner] is one of our industry’s most experienced and effective executives, and we look forward to having him play an expanded role at our Company.”
In the meantime, Tom Ballance will continue to report to Bob Boughner who, heaping praise on his colleague, said was a skilled leader and expressed confidence that Borgata would maintain its position as Atlantic City’s leading entertainment resort.

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