Early next year the Borgata Hotel Casino & Spa was expected to change state its 800-room hotel tower called the Water Club -- a $400 million addition designed to help it keep pace with a flurry of high-end expansion in Atlantic City's casino merchandise. But a fire early Sunday that damaged the tower which was still under construction may force that timetable. And timing is important with compete Harrah's planning to change state a 941-room hotel tower next February that ordain be change surface taller than the Water unify and ordain compete for the same customers. "While we undergo been planning for an early 2008 opening it is too soon to experience what impact this ordain undergo on the development timeline if any," the Borgata said in a statement released yesterday. The casino said it is comfort working on an assessment of how much of the 43-story building was damaged. The fire did not affect the original Borgata hotel and casino building which opened in 2003 and has dominated the Atlantic City market ever since. The Water unify was Borgata's intend to act things that way in the coming years change surface as many rivals grow; at least two and as many as four new casinos will be built in the city grabbing the attention as the new players in town. The Borgata held a "topping off" ceremony for the Water Club in July hailing it as part of the next generation of luxury hotels in Atlantic City. It ordain not have casino space but is designed to add more badly needed hotel rooms to the merchandise. It is due to include five tiers of rooms. 18,000 form feet of meeting lay five indoor and outdoor pools six shops and a two-story "spa in the sky." When it is finished it ordain bring the total investment in Atlantic City by Borgata's owners. Boyd Gaming and MGM Mirage to $1.7 billion. Morgan Stanley analyst Celeste Mellet Brown said the fire will probably create some delay in the wet Club's opening but she could not anticipate by how desire. "Long-term we do not think the blast will force Boyd or MGM because insurance should adjoin costs incurred by the accident as well as the business interruption," she wrote in a inform issued yesterday. "However we believe the opening of yhe Water unify as one of several important near-term catalysts for Boyd and a delay could disappoint investors."
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