Casino operator Hard Rock International has announced a Memorial Day 2018 opening of what would be Hard Rock Hotel & Casino Atlantic City, or its first gambling venue in the popular East Coast gambling hub.
Hard Rock purchased the former Trump Taj Mahal casino resort this spring for the total amount of $50 million. The property will be completely renovated and stripped of its Taj Mahal-inspired interior and exterior to feature elements characteristic of the Hard Rock brand and the rock and roll culture.
Preparatory construction work is expected to commence in July. Among other things, the resort will see its iconic minarets demolished. Actual construction on the future Hard Rock property will begin in August. Around 1,000 people are expected to be employed during construction process.
Hard Rock is planning to invest around $500 million in the renovation of the once-popular and now-defunct property. The purchase of the former Trump Taj Mahal casino came as part of the major operator’s strategy to expand its gambling operations across its domestic South Florida market. As part of that plan, Hard Rock has also been eyeing entry into the newly legalized Japanese casino market. In addition to this, the company has recently been granted the necessary license to build a multi-million dollar integrated resort in the Republic of Cyprus.
Hard Rock joining Atlantic City’s casino industry has been welcomed by New Jersey and city officials as an extremely important and much-needed investment opportunity. The once-thriving casino hub has experienced serious financial difficulties over the past decade which culminated in the closure of five casinos within two years, Trump Taj Mahal being one of the shuttered properties.
Many have interpreted Hard Rock’s interest in the local gambling market as a sign that it may finally be ready to put its gloomy past behind and bring back at least a portion of its former glory.
Hard Rock participated in a Tuesday meeting with the Board of the New Jersey Casino Reinvestment Development Authority, during which it revealed its timetable for the project’s completion and other important details. The meeting was also called so as for the operator to submit its entertainment retail district application.
The district will secure Hard Rock with certain tax deductions. For instance, if the operator is granted the district designation, it will be eligible for a rebate on sales and will be able to use tax money for improvements around the property. Five out of eleven such districts have already been granted to Atlantic City investors.
It has recently become known that the renovated and rebranded Hard Rock Hotel & Casino Atlantic City will try to attract more customers with gambling options beyond the ones on its casino floor. Under initial plans, visitors and guests of the resort will also be able to play by the pool, in restaurants and in special VIP rooms for those who fancy high roller casino experience. Skill-based slot machines and daily fantasy sports will also be among the options offered to interested players.
