Hard Rock to Roll Dice on Trump Taj Mahal, Upping Renovation Budget to $500 Million

Hard Rock to Roll Dice on Trump Taj Mahal, Upping Renovation Budget to $500 Million

Hard Rock International doesn’t like what it sees within the Trump that is former Taj in Atlantic City, that the company purchased in March for $50 million.

Complex 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 bargain price selloff meant the tough Rock was acquiring a Boardwalk property for pennies on the dollar, as former casino developer turned US President Donald Trump built the resort for $1.2 billion in 1990.

But upon better assessment, tough Rock officials state it’s planning to price a penny that is pretty refresh the 2,010-room resort and gaming space, and rid it of a India-themed décor.

‘The amount of cash we’re going to have to spend to remove 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 refers to are the spire and crowns that are onion-shaped ornaments discovered across the Trump Taj Mahal.

Hard Rock Ups Ante

Though the company owned by the Seminole Tribe in Florida got a spot that is premiere the Atlantic City Boardwalk for a rock-bottom cost, Hard Rock executives say the initial budget of $350 million won’t be nearly enough to trnsform the room into an effective tough Rock Hotel & Casino. Allen estimated that the project’s price will increase to at minimum $500 million.

‘It does us no good to place some guitars in the wall and carpets that are new and say, ‘I am able to take five or 10 percent for the business from Resorts or Harrah’s,” Allen said.

Whoever traveled to the Taj Mahal before its October closing understands the work that is serious lies ahead. a dark gaming flooring and outdated eating spaces left the casino feeling musty and unclean.

Atlantic City is in the act of locating a new norm in regards to gaming and hospitality revenue. Five casinos closed since 2014, but the economy is showing signs of recovery and turning the part to an even more successful time.

For the first quarter of 2017, the casino that is remaining produced $816.7 million in revenue from their casinos, rooms in hotels, food and beverage services, and entertainment. That represents an 8.6 per cent gain on the period that is same year earlier.

State of the Union

Atlantic City officials will gladly welcome the increased investment from Hard Rock, and maybe more importantly, the business’s revelation that it plans to reestablish the house’s relationship with the Local 54 casino workers union.

Previous owner Icahn slashed benefits and flatlined pay after he purchased the Taj Mahal out of bankruptcy in February of 2016. The union ultimately continued an attack, but the billionaire did not fold for their demands. The standoff led to Icahn closing, and subsequently attempting to sell, the home once dubbed the ‘eighth wonder associated with the world.’

Allen says he’ll make use of regional 54 on a labor contract that is new.

‘There’s going to be no dispute with Local 54,’ he said. ‘We’re going to place 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 cold weather games will be contested. That’s because the sporting that is international have left a course of destruction, both in a financial and infrastructural feeling, in current decades.

It absolutely was just nine months ago that Michael Phelps capped down their storied Olympics profession in 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 prospective reward. The chances of a nation striking it rich from hosting the summer that is quadrennial winter spectacle are about as likely as a casino gambler hitting that progressive slots jackpot.

Case in point: Rio de Janeiro. Brazil’s 2016 Olympics cost tag was over $12 billion, and what it got in substitution for its sizable investment is a cluster of abandoned stadiums and venues that are anticipated to cost the country huge amount of money in maintenance each year.

Two associated with stadiums constructed for the 2016 games had been earmarked for future usage. One was to be renovated into a school, but remains boarded up today. Another, some other stadium that hosted rugby therefore the modern pentathlon, was planned become transformed right into a park that is public. It stays vacant, and from the Olympics is still littered through the venue.

Good for Gambling, Detrimental To City

One area that does reap the benefits of hosting an Olympics is 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 oddsmakers that are same a handle that barely eclipsed $5 million.

Brazil tried to pass gaming laws prior to its Olympics hosting, but failed. Legalization talks carry on today in a effort to get new forms of tax revenue. Las Vegas Sands billionaire Sheldon Adelson is once such mogul who is reportedly interested in building in Rio should the market become liberalized.

Japan will not be making the same mistakes as Brazil. Its National Diet passed an integral resorts bill to end commercial gambling prohibition in December, and the expected two gambling enterprises could be ready in time for the 2020 Summer Games in Tokyo.

Few Suitors Remain

While the 2016 Olympics avoided catastrophe that is complete it was certainly a scandal-riddled two days in South America. Inadequately built venues and athlete housing, sanitary problems, concerns over crime, the Zika virus, and more plagued the games.

The International Olympic Committee can cross Southern America off its list, leaving Africa as the only continent that is inhabitable to host an Olympics. But it will probably stay that means for decades to come due to the ever-growing cost 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.

Bottom Line

Oxford University recently compiled data on which it takes to host the Olympics. With costs modified for inflation, from 1960 through Sochi in 2014, the normal price ended up being $5.2 billion for the Summer Games, and $2 billion for the Winter Games.

Las Vegas not Enough that is drunk to List of Top 20 Booziest Cities

Las Las Vegas could be considered as Sin City, but that doesn’t mean the place is awash in booze 24/7. Well, actually, maybe it really is. But when it involves determining the cities that are drunkest America, vegas hasn’t got a thing on Midwestern metropolises such as for example Dubuque, Iowa, Lincoln, Nebraska, or Milwaukee, Wisconsin.

In spite of how much this guy can throw back in an evening, it will not be enough to declare the whole city of Las Las Vegas one of many drunkest places on the map. (Image: o2ip.com)

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 and other factors related to alcohol-fueled social ills. Record revealed that while Las Vegas’ reputation as a party city may be well-deserved, it scarcely constitutes a civic health danger.

The study found the greatest drunks weren’t seen stumbling over the Strip or passed away away in a casino lobby. Spoiler alert: in ranking the cities that are drunkest the number one destination was Green Bay, Wisconsin.

Las vegas, nevada don’t crack the Top even 20. Therefore just what gives? Scroll through the list, and you notice some patterns. Nearly all of the towns during the top are within the Midwest, a great deal come in college towns, and just about all were in places that are super-cold for more than half the entire year.

The state of Wisconsin had nine cities on the list. Three places in Iowa made the top 20. Minnesota and North Dakota additionally made respectable showings. And also Fairbanks, Alaska, allow it to be known they have something to offer that Las Vegas does not.

Exactly What Doesn’t Happen in Vegas …

For one, unlike most towns in the list, Las Vegas isn’t much of a college town, at least not of the kind where tailgating has made Saturday morning binge drinking a residential area affair. The number of large state school cities that made the list can always count for a new crop of kids moving to town, ready in the future of age not too far from campus.

There’s UNLV, with 28,000 students, but nearly all of them are commuters. And also for those who do like to party, it’s not similar when they are able to simply blend in with the crowds at casinos and nightclubs within stumbling distance (or maybe merely a cheap ride that is uber from home.

Similarly, casinos may have a 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 free alcohol and 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. The next day for every drunken bachelor party on the Strip, there’s a family in the surrounding areas not rocking out, but rather at home getting ready for school.

Boozer’s Methodology

The methodology in this research used self-reported information from the departments of health and individual solutions in 381 metropolitan areas to ascertain the prevalence of excessive drinking, which correlated with final number of bars and a portion of car fatalities where alcohol was involved.

The same study additionally compiled an inventory of the ‘driest’ towns in the us. Another spoiler: Provo, Utah, ended up being number one. Despite being a college town, the home of BYU boasts only 10 bars in town and just 8.5 per cent for the adult population experienced in excessive drinking.

Fortunately, for those charged with marketing Las Vegas once the planet’s premiere party destination, Las Vegas was nowhere near to making that list.

Another study that is recent of Cities in America’ by The Daily Beast used somewhat different metrics, whilst still being Las Vegas couldn’t split the top 20, coming in at number 21.

If anything, the 24/7 study assessed indicators of problem drinking, not simply level of booze consumed. So even though many may fondly recall Las Vegas as https://myfreepokies.com/21-dukes-casino/ an accepted destination 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 Prefer 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 such a thing, it’s that the rubber match series is anything but a formality.

LeBron James’ defending champs would be the 2017 underdogs according towards the NBA Finals odds, but that was also the situation an ago year. (Image: Garrett Ellwood/Getty Pictures)

On Thursday night, the Cavs took care of company by beating the Boston Celtics to end the series in five games. They now have a week to prepare for the warriors, a group that’s a perfect 12-0 in this 12 months’s playoffs.

The best-of-seven showdown does not begin until next Thursday, June 1, but Las Vegas sportsbooks are of course 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.

However, the odds are tilting in Cleveland’s benefit since these people were first posted. The moneyline has shrunk the Cavs’ chances to +200, with the favorite now at -240.

LeBron James, Kyrie Irving, and Kevin Love look to repeat and provide Cleveland recreations its second championship that is major as a long time. That follows a 52-year drought that caused many Ohioans anguish over 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 outside the Bay Area and Ohio wanted to see. That includes oddsmakers, which stay to see heavy betting on the Finals rivalry.

More Than Rings at risk

The Warriors took the 2015 title, defeating LeBron in his first year after coming back home from his four-year stint in Miami where he won his first two titles. They matched again last June, and after a record-setting regular season from the team out west, and down 3-1 in the series, the Cavs pulled down the unthinkable in coming back and upsetting the champs.

Now, it’s Golden State’s seek out get revenge. Last autumn, Green said need the 2 teams meet again, ‘ I want to destroy Cleveland. I want to annihilate them.’

Along with deciding which team takes the lead in the NBA that is three-game Finals, analysts believe the identity of the league is also at stake. Does it remain LeBron’s, or perhaps is it time to hand the reins over to Curry and Durant?

James Praises Warriors

After their Eastern Conference Finals win, LeBron dished down plenty of respect for the ‘juggernaut,’ that he faces next as he called them.

James, that is going to their seventh straight Finals and passed Michael Jordan on the all-time playoff scoring list on Thursday, said, ‘They’ve been the team that is best in our league going back three years. And they’ve added an unbelievable player in Kevin Durant it difficult. so it makes’

Ohio Casino Employees Will be Able to soon Gamble In-State

Ohio casinos are about to gain a large number of brand new players that are prospective as a result of the individuals who work for them.

The Ohio Senate voted on Wednesday 32-0 to eliminate a prohibition on casino employees gambling in any one of the state’s four casino gaming resorts.

A bill ready to be finalized into legislation in Ohio will rescind a prohibition against casino employees gambling in the Buckeye state, and instead is only going to avoid them from playing at the place they work. (Image: Toledo Blade)

The current legislation, which went into effect shortly after Ohio voted to legalize casinos on 2010, helps it be a first-degree misdemeanor for employees to gamble at any casino into the Buckeye State.

It applies to dealers, wait staff, executives, entertainers, valet parkers, maintenance workers, and simply 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 handle the irrelevance of current statute year that is last when he had been a state Senator. Term limits forced him to leave the Senate, but upon being elected to keep serving in the House, 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 say casino employees had been only forbidden from gambling at their place of business, or any affiliated properties in-state.

All Work and No Play?

Ohio casinos employ significantly more than 9,000 people. That is a great deal of prospective customers who presumably are interested in gambling forced traveling to Michigan, Indiana, or Pennsylvania for the place that is nearest to play.

Existing law doesn’t influence workers at the state’s seven ‘racinos,’ an inequity the new bill desired to address.

Prohibited casino employee gambling is a first-degree misdemeanor punishable by as much as 180 days in jail and a $1,000 fine. Repeat offenses can lead to felony eventually charges. But this has not been a presssing issue, as so far, zero casino operators or employees have been prosecuted.

‘After five years of regulating and enforcing the law at Ohio’s casinos, we never have had a case 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.’

In-State’s Rights

Schuler said in a declaration that the law that is new ‘bring Ohio into alignment with neighboring jurisdictions where such an approach has proven reasonable and still maintains the integrity of casino gaming.’

Pennsylvania had a prohibition similar to Ohio’s in position whenever they legalized gambling in 2006. They rescinded the restriction on in-state gambling in 2012, applying it instead just to one’s where you work.

In New Jersey, state regulators lifted a ban on employees’ gambling in-state at establishments other than their very own place of business in the early 1990s.

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