Hard Rock International is now the owner of the former Trump Taj Mahal casino of Atlantic City and the company has plans to unveil what they will be doing to their new property this week. The Taj Mahal was closed back in October by its then owner Carl Icahn after a long-running dispute with union workers over the restoration of pension benefits and health insurance. Icahn then debated what he would do with the property, eventually selling to Hard Rock in early March.
According to the Associated Press, Hard Rock International plans on reopening the venue next spring and will be debuting their plans for the property this Wednesday during a press conference. The amount spent to acquire the casino by Hard Rock has yet to be revealed. However, CEO James Allen did state that a total of around $300 million will be spent on the property including purchase and renovations.
Hard Rock International has been trying for some time to open a venue in Atlantic City and in New Jersey as a whole. In 2011, the company had proposed a venue for Atlantic City but this idea never came to fruition.
The company also still would like to create a casino at the Meadowlands Racetrack, something they planned on doing if voters had agreed last November to a gaming expansion into North Jersey. Voters said no last year but the company is hoping that there is still a chance the state constitution will be amended and they can provide casino gaming outside of Atlantic City in the racetrack venue of East Rutherford.