{"id":1004168291,"date":"2017-03-06T05:16:08","date_gmt":"2017-03-06T13:16:08","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004168291"},"modified":"2022-12-08T18:40:28","modified_gmt":"2022-12-09T02:40:28","slug":"trump-taj-mahal-in-ac-transitions-to-hard-rock","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/trump-taj-mahal-in-ac-transitions-to-hard-rock\/","title":{"rendered":"Trump Taj Mahal in AC Transitions to Hard Rock"},"content":{"rendered":"

By Keith Loria<\/em><\/p>\n

\"Trump<\/a>

Trump Taj Mahal Hotel in Atlantic City, N.J.\u00a0 (Andrew Borysowski via Wikimedia Commons)<\/p><\/div>\n

Atlantic City, N.J.<\/strong>\u2014Hard Rock International, in partnership with the Morris and Jingoli families, has acquired the Trump Taj Mahal Hotel in Atlantic City, N.J., from a wholly owned subsidiary of investor Carl Icahn, and will rebrand it the Hard Rock Hotel & Casino Atlantic City.<\/p>\n

The new ownership group will invest more than $300 million to purchase, substantially renovate and re-open the casino, which has been closed since October of last year.<\/p>\n

\u201cWe are excited to be part of this revitalization of Atlantic City creating thousands of jobs to help local employment,\u201d Jim Allen, Hard Rock International\u2019s chairman, said in a prepared release. \u201cWe are 100 percent convinced Hard Rock Hotel & Casino Atlantic City will be a success.\u201d<\/p>\n

Located on 17 acres of prime Boardwalk real estate, the hotel offers guestrooms with views of the city and ocean.<\/p>\n

\u201cBoth the Morris and Jingoli families are honored and excited to partner with Hard Rock International in the rebuilding of Atlantic City,\u201d Jack Morris, CEO of Edgewood Properties, said in the release. \u201cThis is a once-in-a-lifetime opportunity to be a part of revitalizing one of our nation\u2019s most iconic destinations. Atlantic City has a rich and dynamic history and we are so proud to help recapture that greatness.\u201d<\/p>\n

The Hard Rock Hotel & Casino should create more than 3,000 jobs for Atlantic City and provide an ongoing and significant impact to the local and regional economies.<\/p>\n

Icahn, chairman of Icahn Enterprises, also owns the Tropicana Casino & Resort in Atlantic City and said that led to his decision to sell.<\/p>\n

\u201cAfter considerable analysis and deliberation we determined that we only wanted to own one operating casino property in Atlantic City,\u201d he said. \u201cA 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.\u201d<\/p>\n

Photo courtesy of Andrew Borysowski via Wikimedia Commons<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

The new owners will invest more than $300 million to purchase, renovate and re-open the property.<\/p>\n","protected":false},"author":451,"featured_media":1004168292,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21782,21808,21751,21742,10],"tags":[33594],"class_list":["post-1004168291","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-development","category-featured","category-hotel","category-latest","category-northeast","tag-hard-rock-international"],"acf":[],"yoast_head":"\nTrump Taj Mahal in AC Transitions to Hard Rock - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/trump-taj-mahal-in-ac-transitions-to-hard-rock\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Trump Taj Mahal in AC Transitions to Hard Rock\" \/>\n<meta property=\"og:description\" content=\"The new owners will invest more than $300 million to purchase, renovate and re-open the property.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/trump-taj-mahal-in-ac-transitions-to-hard-rock\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-06T13:16:08+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T02:40:28+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/Trump-Taj-Mahal-Hotel-in-Atlantic-City-N.J..jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"602\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Keith Loria\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/trump-taj-mahal-in-ac-transitions-to-hard-rock\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/trump-taj-mahal-in-ac-transitions-to-hard-rock\/\",\"name\":\"Trump Taj Mahal in AC Transitions to Hard Rock - 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