The new Hard Rock Casino of Atlantic City should be opening next May, according to Hard Rock International’s latest announcement.
All eyes have been on Atlantic City for a number of reasons over the past few months. The gambling industry seems to be recovering and investors are coming back to the gambling town to try their luck at opening new venues. Hard Rock International has been a hot subject of conversation when considering the gambling industry of Atlantic City. The company recently acquired the Trump Taj Mahal and plans on rebranding the property into a Hard Rock venue. Details have slowly been provided by the company and this week an announcement was made as to when the revamped venue would be opening.
Memorial Day Opening
Hard Rock International has already announced they have big plans for the former Trump Taj Mahal. The company plans on completing redoing the décor of the venue, moving away from the gaudy coloring and decorations added by Donald Trump in the 1990s. The Atlantic City casino will have a Hard Rock theme of course with new décor, gaming offerings and more. Hard Rock International has now announced that they will open their new AC venue on Memorial Day next year. The opening of the Hard Rock Hotel & Casino Atlantic City will be the first time the company has offered a gambling venue on the East Coast.
Hard Rock plans on investing quite a bit of money on the former Trump property. In the spring, the company was able to acquire the venue for $50 million, which is much less than what the building was created for, in the $1.2 billion range. Hard Rock plans on spending at least $500 million in total to change the property, with full renovations. No longer with the property have a Taj Mahal feel. The interior as well as the exterior will be completely changed to follow the rock and roll theme that the Hard Rock is famous for.
Preparing for construction should begin in July and the minarets are to be destroyed first. The construction of the property should begin in August and as many as 1,000 individuals will be able to find employment due to the construction portion of the remodel.
Welcome in New Jersey
The state of New Jersey as well as Atlantic City have been very welcoming to the Hard Rock company. City officials feel that the investment is much-needed and will help the casino city begin to thrive once again. Atlantic City has seen serious financial difficulty over the past few years with four venues shutting down in 2014 and one, the Taj Mahal, shutting down last year. The hope is that the investment by Hard Rock will spur other companies to join in and look to help revive Atlantic City once again.
Yesterday, Hard Rock International participated in a meeting with the Board of the New Jersey Casino Reinvestment Development Authority. It was during this meeting that the company revealed their plans to complete the project for the new gaming venue. Important details were revealed as well as called for the operator to submit an application for the entertainment retail district.
With this application, the Hard Rock will be able to gain access to certain tax deductions. If they are given district designation they will be eligible for sales rebates and can use tax money to make improvements within the venue.
The plans of the new venue include extensive gaming options. Visitors will have access casino gaming on the casino floor, by the swimming pool, in the venue restaurants and in dedicated VIP rooms.