It was revealed Wednesday that the sale of the former Trump Taj Mahal casino had been finalized. New owner Hard Rock International is planning to renovate the property to offer hotel and casino facilities.
No figures related to the purchase have been announced but it is estimated the renovation and the deal altogether would amount to around $300 million.
Atlantic City Mayor Don Guardian welcomed the project, expressing satisfaction with the positive development of the industry in his city. New Jersey Gov. Chris Christie joined him in celebrating the revival of the establishment.
This March, Florida-based Hard Rock bought the Taj Mahal from billionaire investor Carl Icahn. In turn, he had acquired it from bankruptcy court last year after the casino was no longer property of President Trump.
Faced with a workers’ strike, Icahn was forced to shut down the casino in October.
Through this investment, Hard Rock International is hoping to improve the economic climate in Atlantic City and attract numerous customers.