Given the Hard Rock brand and how much money the company is spending on overhauling Taj Mahal, it is probably going to be one heck of a grand opening party.
$500 million in renovations to NJ casino already underway
The company bought the shuddered casino from Tropicana owner Carl Icahn for the bargain-basement price of $50 million. Hard Rock Chairman Jim Allen assured the public the company plans to put much more than that into completely overhauling the property though. Per Gambling Insider:
“We are committed to a minimum of $500 million that we’re going to put back into that building. It does us no good to put some guitars on the wall and new carpets, and say, ‘I can take 5 or 10 percent of the business from Resorts or Harrah’s.’”
The renovations should be in full swing by August. During a May press conference, Allen said not a single fixture from the old casino would survive the overhaul.
The property will feature 2,400 slots, 130 table games, and several performance spaces. The existing Hard Rock Cafe attached the casino will be a 400-seat performance venue. Additionally, two other, larger event spaces will offer a combined 7,000 seats.
There will still be an iconic Hard Rock Cafe restaurant on property. However, it is relocating to an area by the beach.
Hard Rock plans include poolside gambling, skill-based slots
The Associated Press recently obtained details about the new property the casino company submitted to the state. Some of the features in the plans are:
- Poolside and restaurant gaming
- An area dedicated to skill-based slot games
- Fantasy sports tournaments
- Private VIP gambling areas
This is just a wish list at the moment, all of which is pending approval from New Jersey Division Gaming Enforcement (DGE).
Casino renovations getting more expensive
When Hard Rock first acquired the property, the plan was not to spend half a billion dollars remodeling. In fact, the cost of renovations is a number that just keeps rising.
Shortly after the purchase, Hard Rock representatives said there would be $350 million set aside to overhaul the rundown Taj Mahal. In the span of just a few weeks, that number is up to $500 million. It is entirely likely that number gets even bigger once construction begins.
The upside of the project’s scope is how many jobs it creates for the people of Atlantic City. There will be 1,000 construction jobs available during renovations. Once the newest New Jersey casino opens its doors, that means 3,000 new jobs for New Jersey residents.[i15-table tableid=5268]
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