Steve Norton on HardRock and Upside Potential of Atlantic City


From Casino Guru, Steve Norton: Great news that the former Taj Mahal property will reopen on the Atlantic City Boardwalk. Even better that it will be owned and operated by the Hard Rock Company, that’s familiar with destination casinos.

We should remember that Hard Rock has, or had, an agreement with The Meadowlands, to operate a North Jersey casino there, if approved by NJ voters.

Unfortunately, the opponents misrepresented the benefits to New Jersey and Atlantic City. Example: a single casino would bring back much of the revenue being spent by NJ citizens in eastern Pennsylvania casinos and race track slots at Aqueduct and Yonkers.

Because the deal before the Legislature, and not understood by voters; is that a North Jersey casino would get 80% or more of it’s revenue from casinos, other than Atlantic City; but would share substantial revenue with AC.

It would probably double the taxes from gaming to NJ Seniors and the disabled. (Lost over $1.8 billion since PA slots were opened in Fall 2006)

Hard Rock Atlantic City will expand entertainment offerings & hopefully attract more conventions and trade shows….mid-week days and nights in the Fall, Winter and Spring.

As long as the overall economy remains constant, all sources of AC revenues should increase. No competing gaming projects are on the horizon for the Northeast, except for the Cordish Company developing its Philadelphia facility near the South Philly sports complex. Hopefully with new management at the Borgata, Taj Mahal and Showboat, the existing mind set, just on gaming, will disappear, and the resort industry will make a concerned effort to attract air service from important hub airports, like Atlanta’s Hartsfield International.

The last time I checked, Atlanta has 93 flights a day to Las Vegas (9 non stops), adding up to about 5 million seats annually to Las Vegas. Welcome back home, Jim Allen. Welcome Hard Rock. Proponents of Atlantic City and New Jersey are pulling for you.

Steve Norton

Steve Norton
Steve Norton
  • Chairman/CEO at Norton Management
  • LLCFormer President/COO at Argosy Gaming Co.
  • Former President / CEO at Gold River Resort and Casino
  • Former President/COO at Las Vegas Sands
  • Former Executive Vice President (EVP) at Resorts International, Inc.

 

 

 

 

2 Comments

  1. What is taking the hard rock so long to offer day bus trips and to get the jitney to bring people in from the street like the ocean casino does well I guess our money doesn’t matter well good luck !!

    1. I won’t go there at night. During the summer, I’d take the Jitney to Ocean Casino and enjoy a Boardwalk stroll to Hard Rock and walk back to the Ocean Casino to go home.

      I live in the Enclave and the new Jitney stop by the college makes it convenient. Now I just don’t go there because of the Jitney not going into the HardRock on my way home I’m standing in front of Sister Jeans closed church and soup kitchen. I’m approached, do I want a date and more times more crudely.

      Now I go to the Golden Nugget during the winter. I like having Ocean, HardRock, and Resorts all within a short walk.

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