The Hard Rock Reopens Donald Trump’s Failed Atlantic City Casino? Back when Donald Trump focused most of his attention on real estate deals and more specifically the Atlantic City casino industry, the Trump Taj Mahal was all the rave when it first opened its doors for real money gambling.
Above all, the Taj Mahal opened in 1990 at a staggering cost of $1 billion for that period of time. Donald Trump himself referred to the Atlantic City casino and resort as the “eighth wonder of the world.” The property managed to stay in business while going through bankruptcy. However, during its run in this coastal New Jersey gambling town, the Taj went from being at the top of the list in gross revenues to become the worst-performing casino in town before finally closing its doors in October of 2016. At that time, billionaire investor Carl Icahn was in control of the property. Donald Trump’s only involvement was through the casino’s name.
Hard Rock International, which is owned by and operated by the Seminole Indian Tribe in Florida decided to breathe new life into the shuttered real money gambling hall. It was able to acquire the old Taj Mahal for $50 million with plans of spending upwards of $400 million on renovations. As of May 9, this report goes on to mention that the new Hard Rock Hotel and Casino were given the green light by New Jersey casino regulators to open its doors to the gambling public. The company had previously announced that it was targeting June 28 as its official opening date to coincide with the busy summer tourist season on the South Jersey coast.
Along with the operation of this brick and mortar casino in Atlantic City, Hard Rock International is also pursuing online real money gambling in the state. According to an Associated Press article from late January of this year, the gaming company has also filed the necessary paperwork to be a licensed online gambling operator with the Garden State’s borders. The Division of Gaming Enforcement is the governing body of the state when it comes to licensing and the overall regulatory process.
Most importantly, there were five Atlantic City casino resorts offering online gambling with the coordinated efforts of certain business partners handling the technical aspect of gambling through the Internet. It was also reported that online gambling operations accounted for $245.6 million in revenue in 2017.
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There are a total of seven operating brick and mortar casinos in Atlantic City. Also in the works with Hard Rock is the Ocean Resort Casino. This was formally known as the Revel and it has plans to open its doors to real money gambling in the not too distant future. The new Ocean Resort Casino is also pursuing a license to operate online. In its heyday, the Atlantic City casino industry offered to gamble through a dozen brick and mortar locations. It was also reported that the Hard Rock will not offer traditional poker tables as part of its gambling operations, but the new Ocean Resort Casino will.