This is looking to be a great year for Atlantic City. More people are visiting and more money is being spent.
New Jersey is looking to become the Las Vegas of the East Coast. It wants to build a Hard Rock Casino. New Jersey was the first state to have virtual-sports betting. And, although it’s still in discussion at the moment, the city would like to add a Hard Rock Casino to its already well-known boardwalk of casinos.
At a recent meeting, Hard Rock International received permission to build a casino on the site of the former Trump Taj Mahal.
For this arrangement to have been accepted, two parties needed to have state casino licenses, with the operator having a stake of 10 percent.
The men to make it happen
Jack Morris and Joe Jingoli are both businessmen and investors. They have both been successful in real estate and other investments across New Jersey.
Jingoli has been an Atlantic City resident for a long time, and his firm is based there as well. He was hired to work on Stockton University’s Atlantic City Gateway Project. So, he has excellent ties to the city, as well as being known to make great investments.
Presently, the university is converting the former Atlantic City High School into living quarters and academic and business buildings.
The Hard Rock is currently being renovated. The Taj’s towers and onion-shaped dome will be transformed. This is by no means Jingoli’s first time doing something like this.
Jingoli’s firm has done similar jobs several places around the country, including the Seneca Niagara in New York and the Sands Casino Resort and Parx Casino, both in Pennsylvania.
Morris, on the other hand, is a commercial and residential real estate investor. He focuses a great deal on developing in economically developing areas. For him, there was never a question about helping Atlantic City with its developmental issues. It was something he is quite confident and elated to do.
Jingoli and Morris strongly believe if they can revitalize the oceanside municipality, it will create more interest in the city and bring people to it. The image, they believe, will greatly benefit the city. Although a great place to have fun, Atlantic City has, in the past, had a very notorious image.
Atlantic City has not been able to feel the same economic effects as Pennsylvania, which has had a gaming boom lately.
The future of Hard Rock
Right now, Atlantic City has seven remaining mega-casinos, and with so many residents of New Jersey heading to Pennsylvania to gamble, it is causing the city to lose revenue. However, many economists believe that with the renovation and transformation of the Taj Mahal into the Hard Rock Casino, the city will see a huge level of interest again. They hope to return it to the New Jersey’s former days of glory.
Jim Allen, Hard Rock CEO, visits Atlantic City regularly, Although he now lives and works in Florida, Allen once was a dishwasher while staying in the city.
Hard Rock will have 2,400 slot and 130 tables games. There will be a hotel with 2,000 rooms and a 7,000-seat venue for concerts.
The hotel-casino is looking to be a great addition to the landscape of New Jersey. It looking to be a great year indeed.
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