After paying the paltry sum of $50 mil, Hard Rock has decided to pump even more $ into their latest acquisition, the former Taj Mahal on the Atlantic City Boardwalk.
The initial $350 million investment will be upped to $500 million. The grand opening of Hard Rock Atlantic City is slated for Summer 2018.
You can be sure that Hard Rock’s Jim Allen doesn’t want to see an inflatable rat on Boardwalk as they open their doors for the first time. Allen will not follow the lead of former Taj owner, Carl Icahn.
Allen has already pow-wowed (oops. is that politically incorrect?) with our favorite Boardwalk bad ass; Bob McDevitt, president of the Local 54 casino workers’ union.
Allen has promised to sign a contract with the union. Smart.
As reported by the New York Times, “There’s going to be no dispute with Local 54,” Allen said. “We are going to put people back to work. We’ll get it done. We’ll do it fair.”