Hard Rock Granted Atlantic City License

Written by:
Guest
Published on:
May/09/2018

ATLANTIC CITY, N.J. (Associated Press) — Hard Rock had an easy time with New Jersey gambling regulators on Wednesday, gaining a license to reopen a casino and begin Atlantic City's recovery from a string of gambling hall closures on a property that President Donald Trump once hailed as "the eighth wonder of the world."

The Casino Control Commission granted a license to Hard Rock, the worldwide hotel, gambling and entertainment company owned by Florida's Seminole Indian tribe. It is reopening the former Trump Taj Mahal.

The casino is set to reopen on June 28 — the same day as another shuttered Boardwalk casino, the former Revel property, that will open as the Ocean Resort Casino. Together, the new casinos will restore as many as 6,500 of the 11,000 jobs Atlantic City lost when five of its 12 casinos went out of business since 2014. Casino officials say Hard Rock has received 50,000 applications for 4,000 jobs.

"What we have in store is going to blow people away," said Jon Lucas, chief operating officer of Hard Rock International. "It'll be a boost for the reinvention of Atlantic City."

Four casinos — The Atlantic Club, Showboat, Trump Plaza and Revel — went out of business in 2014. The Trump Taj Mahal followed in 2016.

Hard Rock gutted and is completely renovating the casino resort that Trump opened in 1990.

"We could have just re-carpeted and put up some (memorabilia). But we want to grow Atlantic City rather than just moving people from an existing facility," said James Allen, CEO of Hard Rock International.

The casino has budgeted $30 million for entertainment in its first year, Allen said. That will fund over 300 nights of live music, comedy and drama. Carrie Underwood (June 29) and Pitbull (June 30) will be the first acts to perform there.

The casino will have no debt, being self-financed by Hard Rock and its local investment partners, Allen said. The resort plans to offer internet gambling and sports betting, if it is legalized.

The Taj Mahal went bankrupt within a year of Trump's opening, and Trump lost control of it in a subsequent bankruptcy years later when bondholders took over. His friend and fellow billionaire Carl Icahn shuttered the Taj Majal in 2016, after failing to reach a labor agreement with Atlantic City's main casino workers' union.

Hard Rock bought it in March 2017 after repeatedly testing the waters in Atlantic City. It had proposed, then abandoned a plan for a smaller music-themed casino in 2011, and its executives considered buying Revel after that casino had gone dark.

Gambling News

The Death of The Bookie!

Are you ready for the future of gambling in America? If you’re wondering how you can prepare for the upcoming flood of competitors trying to steal your lunch, this is going to be the most important message you’ll ever read!

League Blocking of Sports Gambling Cost Racetrack $139 Million

League Blocking of Sports Gambling Cost Racetrack $139 Million

A New Jersey horse racing association has sued the four major pro sports leagues and the NCAA over what it says is more than $130 million in lost sports betting revenue.

5 Serious Questions To Ask Before Signing Up With A Pay Per Head Company

Don’t get ripped off with the wrong pay per head solution, finding a premium service will help online bookies achieve their sportsbook goals and become a master agent. Jot down these 5 serious questions and start searching for the best per head platform.

PricePerPlayer: 'Benefits of Legalized Sports Betting Far Outweigh the Negatives'

PricePerPlayer: 'Benefits of Legalized Sports Betting Far Outweigh the Negatives'

Pay Per Head businesses, bookies, agents and online sportsbooks were mostly celebrating last week's landmark decision by the U.S. Supreme Court allowing all 50 states to legalize sports betting (not all will).  The rationale for this mindset is, well, it changes the public's mindset about an activity that for centuries has been frowned upon, perhaps a few notches above prostitution.

Paddy Power Buys FanDuel

Paddy Power Betfair (PPB.I) (PPB.L) has agreed to merge its U.S. business with fantasy sports company FanDuel to target the U.S. sports betting market that is set to open up in the coming years, the Irish bookmaker said on Wednesday.

Syndicate