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ATLANTIC CITY, N.J. (CBS) – The Boys & Girls Club of Atlantic City will get a huge upgrade thanks to an investment of $500,000 from MGM Resorts International, owner of Borgata Hotel Casino & Spa.

On Thursday, officials announced a $2 million capital campaign to build a new Teen Center for Economic Development & College Readiness which aims to transform the future of the youth of Atlantic City by providing kids a space they can go to after school to develop the necessary skills to graduate high school, attend college or begin a career.

The newly-transformed Club will be known as the MGM Resorts International Teen Center for Economic Youth Development & College Readiness.

Credit: MGM Resorts International

“Today we support about 1,900 youth a year. This center will not only help about 400 more kids, but it will expand our services to provide them with the skills and tools necessary to break the cycle of poverty. We could not transform the lives of so many without the support of MGM Resorts and our donors. Thanks to them we are well on our way to creating a better future for thousands of Atlantic City youth,” said Dr. Michelle Carrera, Executive Director, Boys & Girls Club of Atlantic City.

Officials say the funds will be used to upgrade the currently Boys & Girls Club building on Pennsylvania Avenue and help create an operational fund for the career programs for five years.

“At MGM Resorts, we are committed to supporting organizations that share our values and drive change in each of the communities where we are located,” says Shelley Gitomer, Vice President, Philanthropy and Community Relations, MGM Resorts International.“We have come to know the Boys & Girls of Atlantic City through Borgata and their mission and goals align with our philosophy to support education and workforce development. We hope that our donation will encourage other members of the local business community to also be part of the campaign and support the mission of the Boys & Girls Club of Atlantic City.”