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The Hard Rock International boss is not happy with how his company been treated since setting up shop in Atlantic City, New Jersey.
Hard Rock doled out $50 million in March 2017 to buy the property that was formerly the Trump Taj Mahal. The company then spent $500 million to transform the Atlantic City Boardwalk property into a new hotel and casino. It was a successful venture, as the 17-acre property has become one of Atlantic City’s most profitable casinos. Hard Rock saw a November revenue of nearly $26.2 million, which is a 14.9% increase from November of 2018.
In a recent interview, Hard Rock International chairman Jim Allen said, “Candidly, we’re disappointed with Atlantic City. There’s no other way to say it. It’s a shame that they did not rise to the occasion of a company coming in [and] putting $500 million into that city.”
According to several reports, the opening of the Hard Rock has transformed the downtrodden former Trump property into one of the biggest tourist attractions in Atlantic City. It has also created around 3,000 jobs.
However, the company, which is owned by the Seminole Tribe of Florida, is under the belief that Atlantic City is even worse off than before, as the city is not encouraging casino operators to make investments to revamp and improve their properties.
Allen said, “There were all kinds of promises from Trenton, the Casino Reinvestment Development Authority and the city [that] things were going to change. And, candidly, I think Atlantic City is in worse shape today than it was two years ago and that’s a shame. Pacific Avenue has the identical problems it had for the last 20 or 30 [years] and, frankly, it’s worse than it was 10 years ago.”