Company had announced a USD 400M investment
Hard Rock could spend USD 500M on Trump Taj Mahal
During the 21st annual East Coast Gaming Congress, Jim Allen-Hard Rock International chairman- informed tha the brand has decided to increase its investment after completing a further inspection.
2017-05-26
Reading time 44 seg
During the 21st annual East Coast Gaming Congress, Jim Allen-Hard Rock International chairman- informed tha the brand has decided to increase its investment after completing a further inspection.
“The building is tired,” Allen said. “When we first bought it, we thought we would spend $350 million, then it became $375 million, then it became $400 million. We are now committed to putting a minimum of $500 million into that building.”
““The new property will feature two separate arenas, with seating totaling 7,000, and more than 2,400 slot machines.
”
The property is expected to open in summer 2018. The group of investors, including Hard Rock International, paid $50 million for the property once owned by now President Donald J. Trump, according to U.S. Securities and Exchange Commission filings.
““The project is expected to create more than 1,000 construction jobs and 3,000 permanent jobs, according to Hard Rock.
”
Since the transaction March 31, Hard Rock has hired 23 employees as it sets out to bring the once iconic Taj Mahal back to life under a new name and identity.
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