Many eyes are upon this resort's newest nongaming attraction, the Water Club, a $400 million luxury hotel that sits next to the Borgata, the city's top-grossing casino. As top executives from Boyd Gaming Corp. and MGM Mirage - the two companies that built the Borgata and Water Club - and New Jersey politicians took turns at the podium at Friday's ribbon-cutting ceremony here, almost all alluded to the Water Club as where the city needed to venture. "This means so much for the future of Atlantic City as other states are nipping at our heels with gaming," said Assembly Speaker Joseph Roberts (D., Camden), who came down from Trenton. High-end hotels with no gambling, like the Water Club, represent a new option at gambling meccas like Las Vegas and Atlantic City. Four more megacasino resorts are planned for Atlantic City over the next four years.