Niklas Rytterstrom Takes Helm at Borgata in Strategic Promotion Move by MGM Resorts

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In a bold career move, Niklas Rytterstrom has been designated the new captain to helm the Borgata, located in Atlantic City, one of MGM Resorts International’s most prominent properties outside of Las Vegas. This promotion thrusts him into the roles of president and chief operating officer, succeeding Travis Lunn, who recently announced his relocation back to Las Vegas to steer the operations of Mandalay Bay and Luxor.

Rytterstrom’s promotion demonstrates both an affirmation of MGM’s faith in his leadership abilities and a strategic move for Borgata amidst a fiercely competitive landscape. Commenting on this significant appointment, Steve Zanella, the president of MGM Resorts Operations, praised Rytterstrom’s extensive experience with MGM Resorts and hailed his heavyweight operational expertise and industry knowledge. Zanella firmly believes that Rytterstrom’s commanding leadership skills and strategic vision will continue to accentuate Borgata’s distinctiveness, fortifying its position as a market leader.

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Nestled in the scenic backdrop of the Marina District, the Borgata was inaugurated in July 2003 as a remarkable venture by MGM, in partnership with Boyd Gaming. In 2016, MGM purchased Boyd’s 50% stake in the property, a deal sealed for a whopping $900 million. However, the resort’s physical assets ended up in the possession of Vici Properties when they bought out MGM’s REIT, MGM Growth Properties, in 2022. MGM now leases Borgata’s operations from Vici.

In reflecting on his journey, Rytterstrom, MGM Resorts veteran of over two decades, remarked with earnest excitement and gratitude on this new phase of his career at Borgata. Stepping into his most significant role thus far, following a remarkable tenure that took him from an assistant hotel manager at the Bellagio in 1999 to several executive roles later, he expressed his anticipation to contribute to the growth and success of not only the resort itself but also of the vibrant Atlantic City community, New Jersey, and the adjacent regions.

Undeniably, Borgata holds an instrumental position in the Atlantic City gaming industry. Revenue statistics from the New Jersey Division of Gaming Enforcement (DGE) last year once again crowned Borgata as the top-earning casino. It’s worth noting that Borgata’s near $729.7 million gross gaming revenue accounted for roughly 26% of the total earnings from the region’s nine brick-and-mortar casinos.

In the first three quarters of 2023, Borgata reported a substantial operating profit of $178.1 million, significantly outpacing its closest competitor, Hard Rock, which reported a $97 million profit. Bolstering their position as a market leader, Borgata recently completed a $55 million overhaul, including an exciting rebranding of the Water Club as the MGM Tower and a much-anticipated upgrade of all 700 guestrooms and suites.