ATLANTIC CITY, NJ (CelebrityAccess) — Hard Rock International has announced that they are leading a partnership that will purchase Atlantic City's former Trump Taj Mahal Casino from investor and current owner Carl Icahn.
Hard Rock International will be majority owner of the rebranded Hard Rock Hotel & Casino Atlantic City in partnership with the Morris and Jingoli families, two families connected to large New Jersey-based real estate and construction concerns. The group will invest more than $300 million to purchase, substantially renovate and re-open the casino.
"Both the Morris and Jingoli families are honored and excited to partner with Hard Rock International in the rebuilding of Atlantic City," said Jack Morris, CEO of Edgewood Properties. "This is a once-in-a-lifetime opportunity to be a part of revitalizing one of our nation's most iconic destinations. Atlantic City has a rich and dynamic history and we are so proud to help recapture that greatness."
The partnership, majority controlled by Hard Rock International, will transform the existing Taj Mahal with a complete remodel and rebrand of the property that is located on 17-acres of prime Boardwalk real estate.
From renovation to completion, it is expected that the new Hard Rock Hotel & Casino will create over 3,000 jobs for Atlantic City and provide an ongoing and significant impact to the local and regional economies as well as the revitalization of Atlantic City, Hard Rock International said. – Staff Writers