Thursday, March 2, 2017

Hard Rock buys the Taj Mahal

The Taj Mahal Casino in Atlantic City has been sold.  Hard Rock International will be majority owner of the property in partnership with the Morris and Jingoli families.  The group will invest more than $300 million to purchase, renovate and re-open the casino by the summer of 2018.

Carl Icahn, Chairman of Icahn Enterprises, acquired the casino in February 2016 when Trump Entertainment Resorts Inc. emerged from bankruptcy.  Losing millions of dollars a month, Icahn closed the casino on October 10th of 2016