After purchasing the former Trump Taj Mahal of Atlantic City in March for $50 million, Hard Rock International announced big plans for the property. In the beginning, the company originally planned to spend $350 million in total on the property to transform the space. However, it seems officials have decided to spend even more to scrub the Trump name from the property and will now be spending $500 million minimum on transforming the venue into the Hard Rock Hotel & Casino of Atlantic City.
United States President Donald Trump created the Atlantic City resort and opened the venue in 1990 after spending $1.2 billion. The latest owner, Carl Icahn, sold the property to the Hard Rock at a steal, with the company actually obtaining the venue for pennies on the dollar when compared to the original price.
Officials of the Hard Rock have now reviewed the casino and have decided it is going to cost even more to refresh the hotel, which contains 2010 guest rooms, along with the gaming space. The India-theme décor will be removed to make way for the rock ‘n’ roll theme the Hard Rock is known for.
In speaking with the Associated Press, Chairman of the Hard Rock, Jim Allen, stated that it will do no good to put in the guitars the brand is famous for, along with new carpeting without changing out the theme, which includes removing the purple décor and minarets found on the outside of the property.
Officials of Atlantic City are happy to see the investment by Hard Rock International and will be glad to see another casino in operation as the industry currently offers only seven gaming venues. On top reopening the gaming venue, the Hard Rock is also working to reestablish a relationship with the Local 54 casino workers union which is also important.
Carl Icahn, the previous owner of the property, had cut health care and pension benefits when he purchased the Taj Mahal from bankruptcy. Because of the benefit cuts, the work force went on strike and Icahn ended up shutting down the casino in October, several months after the strike first began. Allen has plans on working with the Local 54 in regards to a new labor contract and stated that there is not going to be a dispute with the Local 54 and they are going to put people back to work with the new venue.