The new Hard Rock Hotel & Casino has opened its doors in Atlantic City, with the promise of being a new type of destination that will grow the market and bring new visitors to the resort town.
The new Hard Rock Hotel & Casino will open June 28, with a model that aims to set a new standard in Atlantic City. For one thing, the resort will have an added emphasis on entertainment, leveraging Hard Rock’s own vast network of performers to help program the venue and bolster other nongaming revenue streams such as meeting business and hotel stays. But its owners have sought to be different from past generations of New Jersey casinos in another way, focusing on community outreach that they say will continue well past the grand opening.
Even before I started covering commercial real estate full-time, I still came across development stories during my earlier days as a metro reporter in Central Jersey. One of those stories came when I was covering Bound Brook, a borough in Somerset County that had a tired downtown and a history of being battered by flooding from the Raritan River. But in early 2011, we learned that a developer named George Capodagli was interested in building the type of new apartments that were starting to crop up elsewhere in the state.
With two weeks until its grand opening, the Hard Rock Hotel & Casino Atlantic City has unveiled the design for the new state-of-the-art resort on the city’s iconic Boardwalk.
Set to open in just three weeks, the new Hard Rock Hotel & Casino Atlantic City has announced a series of new restaurant options at the 17-acre resort property.
Jack Morris and Joe Jingoli, whose families have partnered with Hard Rock International to acquire the former Trump Taj Mahal, bring decades of experience in New Jersey real estate and a level of hands-on, local expertise that an outside investor simply wouldn’t have.
Combined with the resources and the pedigree of a global brand like Hard Rock, Morris and Jingoli feel strongly that their plans for Atlantic City will be the catalyst that is often promised but not as frequently delivered. And they say it’s about more than simply reopening a casino.
For a place that has been promised a comeback in recent years — only to see it never materialize — experts say Atlantic City is in uncharted yet promising territory that could help usher in a long-awaited recovery. Land prices are at their lowest in decades, local and regional developers with proven track records are investing in the city and the first credible nongaming project in years is under construction, with the potential to bring thousands of students and professionals to the Boardwalk as soon as next year.
The famed exterior of the Trump Taj Mahal will soon be gone from the Atlantic City Boardwalk and replaced by another iconic brand, the Hard Rock Hotel & Casino.
But Jim Allen says that transforming the property is about far more than changing what’s on the outside.
Sitting on 17 acres of prime Boardwalk real estate, the former Taj Mahal is in line for a $375 million overhaul under the ownership of Hard Rock International and the Morris and Jingoli families.
Investor Carl Icahn has agreed to sell the shuttered Trump Taj Mahal casino to Hard Rock International and two New Jersey real estate families, the buyers said, under a $300 million plan to acquire, renovate and reopen the Atlantic City gaming hall.