Speaking Thursday at the opening of Hard Rock's new casino at what used to be the Trump Taj Mahal, Allen said every study projects a casino at the Meadowlands would do well, with 14 million people. The largest casino in East Rutherford, New Jersey according to gaming machines and table games put together, is Hard Rock Casino at Meadowlands. The Hard Rock Casino at Meadowlands total casino square footage is 200,000 square feet. It has 5000 gaming machines and 250 tables games. Tune into the Hard Rock Casino Meadowlands press conference today at 11:00 a.m. To hear Hard Rock International’s chairman, Jim Allen, and Jeff Gural, chairman of Meadowlands Racing & Entertainment, as they unveil future plans for the potential casino project.
On June 3 Hard Rock International and Meadowlands Racing & Entertainment will unveil plans for a North Jersey casino.
Casino expansion outside of Atlantic City is still an unsettled issue the state is considering to bolster New Jersey’s falling gaming revenue.
The partnership (Hard Rock International currently owns 16% of Meadowlands Racing) has named its proposed casino the Hard Rock Casino Meadowlands, which will be located next door to the new Grandstand built at the Meadowlands Racetrack.
During the press conference, the group will reveal renderings of the proposed casino as well as fly through video, exciting project details, and more, according to a media statement by the two companies.
“New Jersey Casinos could generate more than $400 million in yearly revenue, which could fund critical priorities, such as property tax relief for seniors and veterans’ programs, in addition to helping rebuild Atlantic City and create more than 10,000 jobs in the area,” the group stated in the media release.
A casino in North Jersey closer than ever
Atlantic City has held on to its gambling monopoly with a vice like grip since the first casino, Resorts, opened its doors in 1978, two years after the state passed a referendum to allow casino style gaming.
That being said, with plummeting revenue and the closure of four casinos in 2014, the writing is now on the wall for Atlantic City. Relinquishing that monopoly is something that might now be in Atlantic City’s best interests.
Governor Chris Christie is in favor of northern New Jersey casino expansion, and longtime Atlantic City guardian and State Senate President Steve Sweeney has also come around to the idea.
To ease the minds of Atlantic City advocates like Sweeney, the recent North Jersey casino proposals are calling for these new properties to pay an exorbitant tax rate compared to Atlantic City – 55% compared to 8%. Some of that revenue would go straight into AC’s coffers – something the city sorely needs – to help reinvigorate the city’s economy and strengthen gaming.
“Our plan is to share some of that with Atlantic City to help them rebuild and recover. I look at this as a win for the taxpayers and for Atlantic City,” Meadowlands Racing Chairman Jeff Guraltold The Associated Press.
Hotel Meadowlands New Jersey
Gural also said he was fine with paying the “Pennsylvania rate” of 55%.
Even with groups like Hard Rock/Meadowlands submitting proposals, it would take considerable alacrity to get a referendum on casino expansion outside of Atlantic City on the 2015 ballot, as the deadline to file is in June.
But 2016 would be a good possibility, and the measure would likely be assisted by the increased voter turnout in a presidential year election.
Who else is interested in North Jersey?
Hard Rock and Meadowlands aren’t the only interested parties.
During his keynote address at G2E in October of 21014, Las Vegas Sands Chairman Sheldon Adelsonindicated his desire to build in North Jersey now that the area no longer smells like “a pig farm.”
Another potential suitor is MGM, which already owns a 50% stake in the Borgata, one of Atlantic City’s true success stories.
MGM CEO Jim Murren was upbeat about North Jersey during a recent press briefing at the American Gaming Association offices where he said, “The market opportunity up north is vast. If that were to pass, MGM would be interested in pursuing it.”
Casino likely to apply for NJ online gambling license
If a North Jersey Casino is approved – something that would require not only legislative support, but a statewide referendum to achieve – the casino would almost certainly have the opportunity to launch online gaming platforms in the state.
Sans Sheldon Adelson and Las Vegas Sands, those receiving a license to build in North Jersey would likely launch an online casino in New Jersey to go alongside land-based gaming.
This could bring about an interesting and completely novel dynamic, as it would mark the first major land-based casino expansion in a state offering online gaming – Nevada’s constantly changing landscape excluded.
Theoretically, the company’s online casino could be up and running long before the brick and mortar property opens for business, allowing Hard Rock or MGM (which already offers online gaming through Borgata) to cobble together a database before their first patron steps through the door.
Image Sasha Davas / Shutterstock.com
By Brenda Flanagan
Correspondent
With typical panache, Hard Rock International debuted plans for a casino complex built around Jeff Gural’s Meadowlands Racetrack while speakers blared Bruce Springsteen.
Promotional videos showed a modern facade, dominated by Hard Rock’s iconic guitar.
“It’s a beacon in the night. We want people when they’re in Manhattan to see the Meadowlands and see that — on the Jersey side — there’s an amazing entertainment destination,” said Hard Rock International Chairman and CEO Jim Allen.
Hard Rock Exec Allen described an entertainment dome that changes with the seasons, 5,000 slot machines, 200 gaming tables, restaurants and bars, plus a music museum featuring a rotating collection of rock ‘n’ roll’s historic memorabilia. He says they’ll lure customers with star power and branding.
“We will bring all of our resources that no one in the world can match to create this iconic destination,” said Allen.
“There is some perception that Jeff and I are thinking about ‘slots in a box.’ Let it be said and done — our renderings and video fly through will clearly demonstrate that’s not what we’re looking to do,” Allen said.
Allen says Phase One could be up and running by next summer, early fall, creating more than 2,300 union construction jobs — that got applause — and giving preference to local vendors. He repeated Gural’s offer to pay a 55 percent tax — generating $400 million to help revitalize Atlantic City’s tanking economy and rejuvenate horse racing in New Jersey.
“We have assurances that from the revenue stream, there’d be money dedicated to horse racing, both for standard and thoroughbred. Monmouth Park would receive a share,” said Dennis Drazin.
Praise flowed from a dais packed with politicians who’ve offered bills to put a referendum authorizing casino licenses outside of Atlantic City before New Jersey voters.
“I’m for no more than two. I’d be happy to put up a referendum that says one — in the Meadowlands,” said Sen. Loretta Weinberg.
“We will work together and we will be going to the ballot to ensure that we get this Hard Rock casino built here in the Meadowlands and I promise I will work with colleagues to make this promise become a reality,” said Sen. Paul Sarlo.
“And this could be an economic engine, not just for this region but for the whole state of New Jersey. That’s how important this is,” said Assembly Speaker Vincent Prieto.
New Jersey Meadowlands Stadium
Conspicuous by their absence: South Jersey lawmakers — including Sen President Sweeney – who’s been unsure about when
to post the referendum.
New Jersey Meadowlands Map
“The most important message to be delivered today by me is, this is not a fight between North Jersey and South Jersey. We believe with all my heart this is good for the state of New Jersey,” Gural said.
So the Hard Rock Casino Meadowlands PR machine is off and running, but the finish line — whether that referendum will be held this November or in 2016 — well, that remains undecided.