DEAL COMPLETE AND RENOVATIONS SET TO BEGIN IMMEDIATELY
Atlantic City, N.J. – April 5, 2017 – Today, Hard Rock International officially announced the completed acquisition as well as unveiled plans for the launch and significant redevelopment of Hard Rock Hotel & Casino Atlantic City. Dignitaries including Governor Chris Christie, Atlantic City Mayor Don Guardian, Hard Rock International Chairman Jim Allen and Senate President Stephen Sweeney, as well as local representatives, gathered to learn more about the momentous opportunity the project will bring to Atlantic City. The former Taj Mahal building will undergo an all-encompassing $375 million renovation and reopen in summer 2018. The upcoming Hard Rock Hotel & Casino Atlantic City is situated on 17-acres of prime Boardwalk real estate, offering vast views of the city and Atlantic Ocean.
Impacting local and regional economies, as well as contributing to the revitalization of Atlantic City, the partnership between Hard Rock International and the Morris and Jingoli families will create more than 1,000 jobs during construction and 3,000 permanent jobs. Since the transaction on March 31, Hard Rock has already hired 23 employees as it sets out to bring the once iconic property back to life.
NEW OWNERSHIP GROUP WILL INVEST MORE THAN $300 MILLION TO OPEN REBRANDED HARD ROCK HOTEL & CASINO ATLANTIC CITY
Orlando, FL – March 1, 2017 – Hard Rock International unveils plans for Hard Rock Hotel & Casino Atlantic City. Today, Hard Rock and its partners announced they have reached a definitive agreement with a wholly-owned subsidiary of investor Carl Icahn to purchase Atlantic City’s former Taj Mahal.
Hard Rock International will be majority owner of the rebranded Hard Rock Hotel & Casino Atlantic City in partnership with the Morris and Jingoli families. The group will invest more than $300 million to purchase, substantially renovate and re-open the casino.
“We are excited to be part of this revitalization of Atlantic City creating thousands of jobs to help local employment,” states Jim Allen, chairman of Hard Rock International. “We are 100 percent convinced Hard Rock Hotel & Casino Atlantic City will be a success.”