William S. Boyd, Chairman and Chief Executive Officer of Boyd Gaming Corporation (NYSE: BYD) was joined at the ceremony by MGM MIRAGE (NYSE: MGG) Chairman Terry Lanni, to mark the beginning of construction of the joint venture development between the two companies.  The executives were accompanied at the nearly 30-acre site by New Jersey Governor Christine Todd Whitman, Atlantic City Mayor James Whelan and other prominent New Jersey and Atlantic City officials.

When it opens in 2003, The Borgata will be the first new resort in Atlantic City in 13 years and the largest hotel in the market.  Plans for the 40-story development include 2,010 guest rooms, approximately 120,000 square feet of gaming space, several specialty restaurants and distinct boutiques, a European-style spa and an array of entertainment venues.

�This is an important milestone for The Borgata which represents significant growth opportunities for Boyd Gaming and Atlantic City.  The Borgata is situated on nearly 30 acres and the building will contain over four million square feet.  The property�s innovative design will create a fun and energetic atmosphere,� said William S. Boyd.

�We believe that Atlantic City has a bright future as it continues its development as a center for conventions and tourism,� said Terry Lanni.  �We�re honored to be sharing this investment in Atlantic City�s future with our colleagues at Boyd Gaming.�

The new four-lane Atlantic City-Brigantine Connector, currently under construction, will link the Atlantic City Expressway to the Marina District, providing the central infrastructure for development of this area.  It is expected to be completed in the next several months and will provide ease of access to The Borgata, as well as the other casinos and businesses located in the area.
The Borgata retained Anthony A. Marnell II, Chartered to serve as the principal architect and Dougall Design Associates as the principal interior designer.  Both firms are renowned for the architectural and design services they have provided to some of the most recognizable and successful hotels, casinos and retail centers in the world.

Headquartered in Las Vegas, Boyd Gaming Corporation (NYSE: BYD) is a leading diversified owner or operator of 11 casino entertainment properties located in Nevada, Mississippi, Illinois, Indiana and Louisiana.  

MGM MIRAGE� is an entertainment, hotel and gaming company headquartered in Las Vegas, Nevada, which owns and/or operates through subsidiaries 18 casino properties on three continents.