Hard Rock to acquire the Taj Mahal casino
The company will buy the Atlantic City venue, which used to belong to Donald Trump.
US.- The former Donald Trump casino in Atlantic City, Trump Taj Mahal, will be acquired by Hard Rock International, after the current owner Carl Icahn expressed his intentions of ending his business in New Jersey. The State’s Senate tried to approve a law against the reopening of the venue, which led to Icahn’s decision to sell it.
Although New Jersey Governor Chris Christie decided to veto the Senate’s bill, operators of Taj Mahal Atlantic City casino will sell the business to Hard Rock International. A meeting between Icahn, representatives of Hard Rock, and two State investors companies was held yesterday and concluded with the new deal.
“We are excited to be part of this revitalization of Atlantic City creating thousands of jobs to help local employment,” Jim Allen, chairman of Hard Rock International, commented to the press. “We are 100 percent convinced Hard Rock Hotel and Casino Atlantic City will be a success.”
“We are extremely happy with our ownership of the Tropicana Casino and Resort, and after considerable analysis and deliberation we determined that we only wanted to own one operating casino property in Atlantic City,” added Carl Icahn and continued: “A sale of the Taj Mahal therefore represents the optimal outcome for us. We wish Hard Rock and its partners the best of luck with the Taj Mahal.”
The acquisition price was not revealed, although Hard Rock announced an investment of US$300 million to turn the Taj Mahal into the brand’s renowned signature revenue. The American casino operator was interested in boosting the gaming activity in Atlantic City since its proposal of adding slot machines at the Meadowlands racetrack, but the project was rejected by residents.
