Hard Rock to Roll Dice on Trump Taj Mahal, Upping Renovation Budget to $500 Million
Intense Rock International does not like what it sees in the former Trump Taj Mahal in Atlantic City, which the company purchased in March for $50 million.
Hard Rock Chairman Jim Allen, a former trump entertainment resorts employee, is now tasked with renovating his previous boss’s grand vision in Atlantic City.
Billionaire Carl Icahn’s deal cost selloff implied the Hard Rock was acquiring a Boardwalk home for cents on the buck, as former casino developer turned US President Donald Trump built the resort for $1.2 billion in 1990.
But upon closer examination, complex Rock officials say it’s planning to price a pretty penny to refresh the 2,010-room resort and gaming space, and rid it of an India-themed décor.
‘The amount of cash we’re going to have to invest to eliminate all those minarets and all that purple, Jesus! Just What were we thinking?’ Hard Rock Chairman Jim Allen told the Associated Press this week.
The minarets Allen relates to would be the spire and crowns that are onion-shaped ornaments discovered round the Trump Taj Mahal.
Hard Rock Ups Ante
Although the company owned by the Seminole Tribe in Florida got a premiere spot on the Atlantic City Boardwalk for a rock-bottom cost, Hard Rock professionals state the initial budget of $350 million won’t be nearly enough to trnsform the room into a proper rough Rock Hotel & Casino. Allen estimated that the project’s cost will increase to at least $500 million.
‘It does us no good to put some guitars on the wall and new carpets, and state, ‘I’m able to just take five or 10 percent of this business from Resorts or Harrah’s,» Allen stated.
Anyone who traveled to the Taj Mahal before its October closing understands the work that is serious lies ahead. a dark gaming floor and outdated consuming spaces left the casino feeling musty and unclean.
Atlantic City is along the way of getting a new norm in regards to gaming and hospitality revenue. Five gambling enterprises closed since 2014, nevertheless the economy is showing signs of recovery and turning the corner to a more time that is prosperous.
For the first quarter of 2017, the casino that is remaining created $816.7 million in revenue from their casinos, hotel rooms, food and beverage services, and entertainment. That represents an 8.6 % gain on the same period a year earlier.
State of the Union
Atlantic City officials will gladly welcome the increased investment from Hard Rock, as well as perhaps more to the point, the company’s revelation that it plans to reestablish the home’s relationship because of the Local 54 casino workers union.
Previous owner Icahn slashed advantages and pay that is flatlined he purchased the Taj Mahal out of bankruptcy in February of 2016. The union sooner or later continued a strike, but the billionaire don’t fold for their demands. The standoff led to Icahn closing, and afterwards attempting to sell, the home once dubbed the ‘eighth wonder associated with world.’
Allen says he’ll use neighborhood 54 for a new labor contract.
‘There’s going to be no dispute with Local 54,’ he said. ‘we are going to put people back to work.’
Rio Olympic Infrastructure Left in Economic Chaos, Was It Worth the Gamble?
The Olympics no longer have the hand that is upper determining where its summer and winter games will be contested. That’s because the sporting that is international have left a path of destruction, both in a financial and infrastructural sense, in recent decades.
It had been just nine months ago that Michael Phelps capped off his storied Olympics job within the Aquatics Center in Rio de Janeiro. Built for the 2016 Summer Games at a cost of $38 million, now it sits deteriorating that is vacant. (Image: Mario Tama/Getty Graphics)
Cities are finally wising up that the gamble on hosting the Olympics far outweighs the potential reward. The likelihood of a nation striking it rich from hosting the summer that is quadrennial cold weather spectacle are about since likely as a casino gambler hitting that progressive slots jackpot.
Just to illustrate: Rio de Janeiro. Brazil’s 2016 Olympics price tag was over $12 billion, and just what it got in return for its investment that is sizable is cluster of abandoned stadiums and venues that are expected to cost the country millions of dollars in upkeep every year.
Two regarding the stadiums constructed for the 2016 games were earmarked for future use. One was to be renovated into a school, but remains boarded up today. Another, some other stadium that hosted rugby plus the modern pentathlon, was planned to be changed in to a park that is public. It also continues to be vacant, and from the Olympics is still littered through the venue.
Good for Gambling, Bad for City
One area that does reap the benefits of hosting an Olympics may be the gambling industry. When London welcomed the 2012 Summer Games, British sportsbooks took in over $100 million in bets. Four years earlier in Beijing, the same oddsmakers produced a handle that barely eclipsed $5 million.
Brazil attempted to pass video gaming laws prior to its Olympics hosting, but failed. Legalization talks continue in an effort to find new forms of tax revenue today. Las Vegas Sands billionaire Sheldon Adelson is when such mogul who is reportedly interested in building in Rio should the market become liberalized.
Japan defintely won’t be making the same mistakes as Brazil. Its National Diet passed an integrated resorts bill to end gambling that is commercial in December, and the expected two casinos could be ready in time for the 2020 Summer Games in Tokyo.
Few Suitors Remain
While the 2016 Olympics avoided complete catastrophe, it was certainly a scandal-riddled two weeks in South America. Inadequately built venues and housing that is athlete sanitary problems, issues over crime, the Zika virus, and more plagued the games.
The International Olympic Committee can cross South America off its list, leaving Africa as the only inhabitable continent perhaps not to host an Olympics. But it will likely stay that means for decades to come due to the ever-growing price surrounding the Games.
Los Angeles and Paris are the two finalists for the 2024 Summer Olympics after Budapest, Rome, and Hamburg all withdrew their bids.
Oxford University recently compiled data about what it requires to host the Olympics. With costs adjusted for inflation, from 1960 through Sochi in 2014, the average cost had been $5.2 billion for the Summer Games, and $2 billion for the Winter Games.
Las Vegas perhaps not Drunk Enough to Make List of Top 20 Booziest Cities
Las Las Vegas could be thought of as Sin City, but that doesn’t mean the destination is awash in booze 24/7. Well, actually, maybe its. But when it involves determining the drunkest cities in America, Las Vegas hasn’t got a thing on Midwestern metropolises such as for instance Dubuque, Iowa, Lincoln, Nebraska, or Milwaukee, Wisconsin.
No matter how much this guy can throw back in a night, it won’t be enough to declare the whole city of Las Las Vegas among the drunkest places on the map. (Image: o2ip.com)
A research conducted by financial news website 24/7 Wall Street looked to identify the 20 drunkest cities in America based on rates of excessive imbibing rate along with other factors related to alcohol-fueled ills that are social. The list revealed that while Las Vegas’ reputation as a party city may be well-deserved, it hardly constitutes a health risk that is civic.
The study discovered the largest drunks weren’t seen stumbling along the Strip or passed away away in a casino lobby. Spoiler alert: in ranking the cities that are drunkest the main destination was Green Bay, Wisconsin.
Las Vegas did not crack the Top even 20. Therefore exactly what gives? Scroll through record, and you notice some patterns. Nearly all of the towns during the top are into the Midwest, a whole lot are in college towns, and just about all were in places which can be super-cold for more than half the season.
Hawaii of Wisconsin had nine towns and cities on the list. Three places in Iowa made the top 20. Minnesota and North Dakota additionally made showings that are respectable. And also Fairbanks, Alaska, allow it to be known they’ve something to offer that Las Vegas does not.
Exactly What Doesn’t Take Place in Vegas …
For just one, unlike many towns in the list, Las Vegas isn’t much of a college town, at the very least maybe not associated with type where tailgating has made Saturday morning binge drinking a residential district affair. The number of large state college cities that made the list can always depend on a crop that is new of moving to city, ready to come of age not too far from campus.
There’s UNLV, with 28,000 pupils, but most of them are commuters. And even for those who do like to party, it’s not similar whenever they may be able simply merge with the crowds at casinos and nightclubs within stumbling distance (or maybe merely a cheap Uber ride) at home.
Similarly, casinos may have reputation for plying gamblers with free booze, but really that trend is rescinding, as corporate Las Vegas casinos are reducing the breeziness with which they dole out alcohol that is free other comps for folks who aren’t necessarily high rollers.
And while tourists come to town to party hard, the Las Vegas metro area is home to almost 2 million residents, most of whom are perhaps not partying 24/7. For every drunken bachelor party on the Strip, there’s a household in the surrounding areas not rocking out, but rather at home getting ready for school the next time.
The methodology in this research used data that are self-reported the departments of health insurance and human solutions in 381 metropolitan areas to determine the prevalence of excessive ingesting, which correlated with total number of bars and a percentage of automobile fatalities where alcohol was involved.
The exact same study additionally compiled an inventory of the ‘driest’ cities in America. Another spoiler: Provo, Utah, ended up being quantity one. Despite being a university town, the home of BYU boasts only 10 bars in town and only 8.5 per cent for the adult population experienced in exorbitant drinking.
Fortunately, for those charged with advertising Las vegas, nevada as the planet’s premiere party destination, vegas was nowhere close to making that list.
Another study that is recent of Cities in America’ by The Daily Beast used somewhat different metrics, but still Las Vegas couldn’t break the top 20, coming in at number 21.
If anything, the 24/7 study assessed indicators of problem drinking, not simply volume of booze consumed. So while many may fondly recall Las vegas, nevada as an accepted place where they drank more than they thought humanly possible, as being a city it’s a place that does pretty well keeping its liquor.
NBA Finals Odds Favor Golden State Over Cleveland in Rubber Match Series
The NBA Finals odds in Las Vegas favor the Golden State Warriors to win the Larry O’Brien Trophy over the Cleveland Cavaliers for the third straight year. But if history informs us any such thing, it’s that the rubber match series is anything but a foregone conclusion.
LeBron James’ defending champs would be the 2017 underdogs according to your NBA Finals odds, but that was also the instance an ago year. (Image: Garrett Ellwood/Getty Images)
On Thursday evening, the Cavs took care of business 21 dukes casino login by beating the Boston Celtics to end the series in five games. They now have a to prepare for the warriors, a team that’s a perfect 12-0 in this year’s playoffs week.
The best-of-seven showdown doesn’t begin until next Thursday, June 1, but Las Vegas sportsbooks are needless to say bets that are already taking. The early action has been on the defending champs while the NBA Finals odds favor Golden State.
The series was opened by the Westgate SuperBook prices at Cleveland +220, and Golden State -260. This means a winning $100 bet on the Cavs returns $220, while the bet that is same the Warriors returns just $38.46.
But, the chances are tilting in Cleveland’s favor since they were first posted. The moneyline has shrunk the Cavs’ chances to +200, because of the favorite now at -240.
LeBron James, Kyrie Irving, and Kevin Love look to repeat and give Cleveland activities its second championship that is major as a long time. That follows a 52-year drought that caused many Ohioans anguish on the years.
They face Kevin Durant, who was simply added to the already all-star-like Warriors roster offseason that is last and mainstays Steph Curry, Klay Thompson, and Draymond Green.
It’s the matchup every basketball fan away from Bay Area and Ohio wanted to see. That includes oddsmakers, which stand to see heavy gambling on the Finals rivalry.
More Than Rings at Stake
The Warriors took the 2015 title, defeating LeBron in his first year after coming back house from their four-year stint in Miami where he won their first two titles. They matched once more final June, and after a record-setting season that is regular the team out west, and down 3-1 within the series, the Cavs pulled off the unthinkable in finding its way back and upsetting the champs.
Now, it’s Golden State’s turn to get revenge. Final fall, Green said should the 2 teams meet again, ‘ I want to destroy Cleveland. I wish to annihilate them.’
Along side deciding which team takes the lead in the NBA that is three-game Finals, analysts believe the identity regarding the league normally at risk. Can it stay LeBron’s, or perhaps is it time to hand over the reins to Curry and Durant?
James Praises Warriors
After his Eastern Conference Finals win, LeBron dished out plenty of respect for the ‘juggernaut,’ that he faces next as he called them.
James, who’s going to their seventh straight Finals and passed jordan in the all-time playoff scoring list on Thursday, said, ‘They’ve been the most useful team in our league for the past three years. And they’ve added an unbelievable player in Kevin Durant it even more difficult. so it makes’
Ohio Casino Employees Will be Able to soon Gamble In-State
Ohio casinos are about to gain thousands of brand new players that are prospective because of the individuals who work for them.
The Ohio Senate voted on Wednesday 32-0 to remove a prohibition on casino employees gambling in some of hawaii’s four casino video gaming resorts.
A bill ready become signed into legislation in Ohio will rescind a prohibition against casino employees gambling in the Buckeye state, and instead will simply avoid them from playing at the destination they work. (Image: Toledo Blade)
The current law, which went into effect soon after Ohio voted to legalize casinos on 2010, makes it a first-degree misdemeanor for workers to gamble at any casino into the Buckeye State.
It applies to dealers, wait staff, executives, entertainers, valet parkers, maintenance personnel, and just about anyone else who works in or for the casino.
The stated purpose was to prevent corruption and collusion, while assuring the public that Ohio casinos would never cheat them at the time.
Rep. Bill Seitz (R-Cincinnati) introduced a bill to address the irrelevance of present statute last 12 months, when he was a state Senator. Term limits forced him to go out of the Senate, but upon being elected to carry on serving inside your home, he brought the bill it won approval from the House on a 94-3 vote with him, and by February.
His bill revised language of that law to state casino workers were only forbidden from gambling at their place of business, or any affiliated properties in-state.
All Work and No Enjoy?
Ohio casinos employ more than 9,000 people. That’s a great deal of potential prospects who presumably don’t mind spending time in gambling forced traveling to Michigan, Indiana, or Pennsylvania for the nearest place to play.
Existing law doesn’t impact employees at the state’s seven ‘racinos,’ an inequity the bill that is new to address.
Illegal casino worker gambling happens to be a first-degree misdemeanor punishable by up to 180 days in jail and a $1,000 fine. Repeat offenses can lead to felony eventually charges. But this has not been issue, as so far, zero casino operators or workers have been prosecuted.
‘After five years of regulating and enforcing the law at Ohio’s casinos, we never have had a instance of employees from different casinos working in collusion to cheat,’ Matthew Schuler, executive director of the Ohio Casino Control Commission, testified in February. ‘In fact, given the systems of surveillance, segregated duties, and controls that are internal to each casino operator, it might be difficult to even attempt.’
Schuler said in a statement that the law that is new ‘bring Ohio into positioning with neighboring jurisdictions where such an approach has proven fair and still maintains the integrity of casino video gaming.’
Pennsylvania had a prohibition similar to Ohio’s in place when they legalized gambling in 2006. They rescinded the restriction on in-state gambling in 2012, using it instead just to an individual’s where you work.
In New Jersey, state regulators lifted a ban on employees’ gambling in-state at establishments other than their own host to business in the early 1990s.