New Hard Rock Casino in Atlantic City is going to cost $500
According recent reports the new Hard Rock Casino in Atlantic City could cost more than $500 million.
Chairman, Jim Allen spoke about the new casino during a keynote address at the East Gaming Congress in Atlantic City on 5th April. The new casino will be located in the famous building formerly known as the Trump Taj Mahal casino. The casino eventually closed due to long running labour dispute which resulted in 3000 workers losing their jobs.
Hard Rock International purchased the casino in March from Carl Icahn who already owns the Tropicana Resort in the city. He described it as an optimum solution. He said he was extremely happy to be passing the Trump Taj Mahal on to new owners. The deal gave them the chance to gain a foothold in the city.
Jim Allen, also said they were committed to hiring 3000 people. This was seen as good news, an opportunity to increase employment in the City.
He also said the new opening will not hurt the city’s remaining seven casinos. Read about Atlantic City casino revenues.
Jim Allen said after purchasing he had met all the Union bosses. We went on to say; “I can say today that I’ve met with all of the unions and there is going to be no labor dispute,” Allen said. “We are going to hire. We are going to work with the unions. I’m not interested in some fight over something that does not matter. We will treat them fair.”
The casino will be given a completely new identity.
The new property will have two separate arena with a total seating capacity for 7000 people. The casino will have more than 2,400 slot machines.
Opening of the new Hard Rock venue is scheduled for Summer 2018.
From now more than 1,000 construction jobs have been created.
The new property will feature two separate arenas, with seating totalling 7,000, and a casino with more than 2,400 slot machines.
Hard Rock International together with a group of investors paid $50 million for the property. The original Trump Taj Mahal casino was created by now President Donald Trump. Jim Allen said “We bought it at a great price”
Originally it was announced that the cost of re-branding the casino would $300 million dollars. Jim Allen said the re-branding of the Casino which has 4 million square feet would cost as much as $400 million, but after further inspection it could be higher.
Jim Allen said “The building is tired” He went on to say “When we first bought it, we thought we would spend $350 million, then it became $375 million, then it became $400 million. We are now committed to putting a minimum of $500 million into that building.”
A large part of the cost increase is attributed to removing the Indian themed decor from the property. As you can see from the photo, the themed decor was pretty bold and extravagant.
Source: Atlantic County News Hard Rock Casino