Gaming and hospitality company Hard Rock International will today seek site approval for its $500-plus-million casino resort on the Atlantic City Boardwalk from the New Jersey Casino Reinvestment Development Authority.The state agency is set to hold a public meeting later today and the Hard Rock project is on its agenda.
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Local news outlet Press of Atlantic City reports that the Florida-based company will seek preliminary and final approval of the site of its new property. There are no further details on the variances sought by the gaming and hospitality operator.
Hard Rock bought the former Trump Taj Mahal casino resort from New York hedge fund investor Carl Icahn last spring. The company said that it would invest more than $500 million to redesign and renovate the property, which closed doors in October 2016 amid prolonged workers’ strike and heavy financial struggles.
The shuttered resort will be rebranded as Hard Rock Hotel & Casino Atlantic City and will have Trump Taj Mahal’s iconic minarets and domes ousted and replaced with Hard Rock’s logo and signature guitars. The renovated property is scheduled to open doors this summer.
Official Opening Date
Hard Rock will be seeking a final site approval from New Jersey authorities just a day before its planned three-city press conference during which it will reveal crucial details about its new operation, including its official opening date.
The Florida-headquartered company will livestream its conference this Wednesday from Hard Rock Cafe Times Square in New York to Hard Rock Cafe Philadelphia and Tanger Outlets The Walk in Atlantic City. Aside from the opening date for Hard Rock Atlantic City, company officials will also provide information for the resort’s entertainment lineup.
Hard Rock’s new casino resort will not be the only one to open doors on Atlantic City’s Boardwalk this year. The failed Revel is slated to reopen this summer, although an official date is yet to be announced.
The $2.4-billion hotel and casino resort originally launched in 2012. It was shuttered a little over two years later after failing to turn a profit. The property was then sold to Florida real estate developer Glenn Straub for $82 million, or just a fraction of what it had cost developers to build it.
Straub planned to invest big in the property and turn it into a profitable one, but failed to meet several self-imposed reopening dates. News emerged late last year that the former Revel was sold to Colorado developer Bruce Deifik for $200 million. The property is currently undergoing a transition into Ocean Resort Casino.
New casino resorts are opening doors on the Boardwalk amid a rapid growth of New Jersey’s Internet gambling market and at a time when the state is awaiting a US Supreme Court decision on sports betting that could change not only New Jersey’s but the country’s gambling scene drastically as it could open the door to a multi-billion industry.