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Hard Rock International is eager to rid the Trump Taj Mahal of anything that draws attention to the current White House occupant. They intend to do so as soon as possible. Hard Rock International paid a total of $50 million for the Trump Taj Mahal in Atlantic City in March.
According to casino.org news, Hard Rock management has stated that it will cost a lot of money to renovate the 2,010 room hotel and gaming facility and remove the India-themed décor.
“Jesus, the amount of money we’re going to have to pay to get rid of all of those minarets and purple is beyond my comprehension!” What the hell were any of us thinking? Hard Rock Chairman Jim Allen spoke with the Associated Press this week. Allen is referring to the onion-shaped crowns and embellishments that can be found throughout the Trump Taj Mahal’s minarets.
Hard Rock Increases Ante
According to Hard Rock executives, the initial budget of $350 million will not be enough to transform the space into a proper Hard Rock Hotel & Casino. This is despite the fact that the Seminole Tribe of Florida’s company was able to acquire a prime location on the Atlantic City Boardwalk for an extremely low price. According to Allen, the project’s cost will rise to at least one billion dollars.
“It does us no good to hang some guitars on the wall and put down new carpets and say, ‘I can steal five or ten percent of the business from Resorts or Harrah’s,'” Allen explained. “That doesn’t help us at all.”
Anyone who visited the Taj Mahal prior to its closure in October understands the magnitude of the tasks that remain. The casino’s musty and filthy atmosphere was exacerbated by its outdated dining areas and dimly lit gaming floor. When it comes to gaming and hospitality revenue, Atlantic City is in the process of establishing a new baseline. Despite the fact that five casinos have closed their doors since 2014, the economy is showing signs of recovery and is turning the corner toward a more prosperous time. Due to the success of their casinos, hotel rooms, food and beverage services, and entertainment venues, the remaining casino licensees earned a total of $816,7 million in revenue during the first three months of 2017. This represents an 8.6 percent increase over the same time period the previous year.
The State of the Union Report
Hard Rock’s increased investment, and perhaps more importantly, the company’s announcement that it intends to reestablish the property’s relationship with the Local 54 casino workers union, will be welcomed by Atlantic City officials. Both of these developments are likely to be extremely beneficial to the city. After buying the Taj Mahal out of bankruptcy in February 2016, Icahn reduced employee benefits while maintaining their pay at the same level. The union eventually went on strike, but the millionaire refused to cave to their demands. As a result of the impasse, Icahn was forced to close and eventually sell the property that was once referred to as the “eighth wonder of the world.”
Allen has stated his willingness to negotiate a new labor agreement with Local 54. “There isn’t going to be any disagreement with Local 54,” he said. “We’re going to get people back to work,” said the president.