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Atlantic City Taj Mahal Casino set to
reopen |
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Atlantic City's controversial
Taj Mahal Casino, formerly owned by US President
Donald Trump, is set to re-open just months after it closed,
resulting in over 2000 job losses.
The resort, which was made up of a
casino and a luxury five-star hotel, closed its doors on October 10th 2016,
after opening in 1990.
The course didn't come as a surprise the Taj
Mahal Casino had been plagued by tax disputes, stand offs with unions, and
money laundering investigations.
A valiant
fight from local campaigners looks to have protected the Taj Mahal Casino's
future, for the short term at least, an investment team headed by
Hard Rock International has signalled its intention to re-open
the troubled casino.
The Chairman of Hard Rock International, Jim Allen,
has promised a revolution and millions of dollars' worth of investment to turn
the of the Taj Mahal into a desirable location once more.
However, not
everyone is convinced this will prove successful; Ed Colman, Digital Editor of
www.casinopedia.org was less
optimistic about the future of the Taj Mahal in his assessment of the latest
twist in this long-running saga.
"I am yet to
be convinced and so are our readers," he said.
"The Taj Mahal casino
comes with a lot of baggage from its troubled past and it won't be easy to
build a respectable reputation.
"It might be good news for workers and
for Atlantic City, but it is only good news in theory.
"If you throw
enough mud at something or someone, some of it will stick; that is the same in
every walk of life and the owners will need to right the wrongs of the past
before progress can be made."
Billionaire investor Carl Icahn reached a
deal to sell the casino to Hard Rock International and two New Jersey investors
for an undisclosed sum. Icahn, who also owns Atlantic City’s Tropicana
Casino and Resort, said he decided one casino in town was enough. He said in
January he had lost about $300m owning the Taj Mahal and would be delighted if
he could sell it for half that amount.
Hard Rock had proposed building a
major casino resort in northern New Jersey at the Meadowlands racetrack with
its owner Jeff Gural. But voters overwhelmingly rejected this in a statewide
referendum in November 2016 that would have authorized casino gambling to
expand beyond Atlantic City. The issue cannot be revisited for at least two
years.
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