The Hard Rock International company announced they reached an agreement with investor Carl Icahan to buy the shuttered Trump Taj Mahal Casino in Atlantic City. The company plans for a Hard Rock Hotel & Casino capitalizing on the massive success they’ve had in the Florida gaming market.
The Boardwalk property will be Hard Rock’s 12th casino, the company formerly operated a Hard Rock Café restaurant at the Taj, and the first entrance into the Atlantic City market. The group plans to invest north of $300 million with the purchase and renovation of the iconic building.
“We are excited to be part of this revitalization of Atlantic City creating thousands of jobs to help local employment,” said Jim Allen, chairman of Hard Rock International. “We are 100 percent convinced Hard Rock Hotel & Casino Atlantic City will be a success.”
The project is expected to bring 3,000 jobs to the area and help revitalize Atlantic City. The Taj Mahal closed in October 2016 in the midst of a union strike.
Hard Rock International is the majority owner but the group includes the Morris and Jingoli families. “Both the Morris and Jingoli families are honored and excited to partner with Hard Rock International in the rebuilding of Atlantic City,” said Jack Morris, CEO of Edgewood Properties. “This is a once-in-a-lifetime opportunity to be a part of revitalizing one of our nation’s most iconic destinations. Atlantic City has a rich and dynamic history and we are so proud to help recapture that greatness.”
The casino is expected to re-open sometime in 2018.