Carl Icahn, billionaire, friend of President Trump, and Atlantic City casino owner has divested himself of one of his most challenging investments: the Trump Taj Mahal Casino in Atlantic City.
Unfortunately the Trump Taj Mahal Casino in Atlantic City never really saw success, and in fact stumbled into bankruptcy as more than one of Trump-branded casino hotels have done.
Enter: Hard Rock International to make an attemp at launching a successful Atlantic City casino.
Icahn Enterprises also owns the very successful Tropicana Casino & Resort and with this sale, they're clearly focusing their business efforts on just one casino property in Atlantic City.
Icahn salvaged Tropicana Casino from bankruptcy in 2009 and they've since had wild successes in their growing their igaming business: Tropicana Casino Online and Virgin Casino Online, which are two of the legal online casinos in New Jersey.
But the run-down Trump Taj Mahal property that Icahn acquire out of bankruptcyy in 2016 proved to be more trouble than it was worth. Following a prolonged labor strike, Icahn shuttered the casino in October 2016. All in all Icahn lost about $300,000,000 on the Trump Taj Mahal investment.
Hard Rock International’s interest in the Taj Mahal isn’t unforeseen.
The company was one of the frontrunners for a North Jersey casino license had last November’s voter referendum passed. Hard Rock had a deal in place with Meadowlands Race Track to integrate a casino into the venerable track.
Though Hard Rock International has purchased the Taj Mahal in Atlantic City, it still surely has its sights set on the Meadowlands.
Last year’s North Jersey casino measure gave current Atlantic City casinos right of first refusal to North Jersey casino projects, so owning and operating a casino in Atlantic City just improves the Hard Rock's chances of being selected for a license should efforts to expand casino gambling to North Jersey continue.
Launching a New Jersey online casino is one of the seeming requisites of operating an Atlantic City casino.
Online gambling has made up more than 15% of total gaming revenue for certain individual casino operators. The contribution made by online gambling was roughly 15% to Resorts Casino’s and 17% of Golden Nugget NJ’s total gaming revenue in 2016. We are sure that you should soon see a Hard Rock NJ Online Casino and BonusSeeker will definitely give you all Hard Rock NJ Bonus Codes and Hard Rock Online Casino Promo Codes!