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

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

Hard Rock Chairman Jim Allen, a previous trump entertainment resorts employee, is now tasked with renovating his previous boss’s grand vision in Atlantic City.

Billionaire Carl Icahn’s deal price selloff implied the Hard Rock was acquiring a Boardwalk property 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 better inspection, tricky Rock officials say it is planning to cost a pretty penny to refresh the 2,010-room resort and video gaming space, and rid it of an India-themed décor.

‘The amount of cash we’re going to have to invest 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 relates to would be the spire and crowns that are onion-shaped ornaments discovered round the Trump Taj Mahal.

Hard Rock Ups Ante

Though 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 executives state the initial budget of $350 million defintely won’t be nearly enough to trnsform the space into a proper tricky Rock Hotel & Casino. Allen estimated that the project’s expense shall increase to at least $500 million.

‘It does us no good to place some guitars on the wall and new carpets, and say, ‘I am able to simply take five or 10 % of the company from Resorts or Harrah’s,” Allen stated.

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 a gaming that is dark and outdated eating spaces left the casino feeling musty and unclean.

Atlantic City is in the act of finding a norm that is new terms of gaming and hospitality income. Five gambling enterprises closed since 2014, however 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 generated $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 welcome the increased gladly investment from Hard Rock, and perhaps more to the point, the company’s revelation that it plans to reestablish the house’s relationship because of 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 fundamentally continued a strike, but the billionaire did not fold to their demands. The standoff led to Icahn closing, and afterwards offering, the property once dubbed the ‘eighth wonder associated with the global world.’

Allen claims he’ll make use of regional 54 on a brand new work contract.

‘There’s going to be no dispute with Local 54,’ he said. ‘we are going to place individuals 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 wintertime games will be contested. That’s because the international sporting tournaments have left a path of destruction, both in a financial and infrastructural feeling, in current decades.

It absolutely was just nine months ago that Michael Phelps capped off their storied Olympics job inside the Aquatics Center in Rio de Janeiro. Built for the 2016 Summer Games at a price of $38 million, today it sits vacant deteriorating. (Image: Mario Tama/Getty Images)

Cities are finally wising up that the gamble on hosting the Olympics far outweighs the reward that is potential. The chances of a nation striking it rich from hosting the quadrennial summer or 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 price tag was over $12 billion, and what it got in substitution for its investment that is sizable is cluster of abandoned stadiums and venues that are anticipated to cost the country huge amount of money in upkeep every year.

Two associated with the stadiums constructed for the 2016 games had been earmarked for future usage. One was to be renovated into a college, but remains boarded up today. Another, some other stadium that hosted rugby as well as the modern pentathlon, was scheduled to be transformed into a public park. Additionally continues to be vacant, and from the Olympics is still littered through the entire venue.

Good for Gambling, Detrimental To City

One area that does benefit from hosting an Olympics could be the gambling industry. When London welcomed the 2012 Summer Games, UK 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 attempted to pass gaming laws prior to its Olympics hosting, but failed. Legalization talks continue today in a effort to locate new forms of tax income. Las Vegas Sands billionaire Sheldon Adelson is as soon as such mogul who is reportedly interested in building in Rio if the market become liberalized.

Japan will not be making the same mistakes as Brazil. Its National Diet passed an integral 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 catastrophe that is complete it was certainly a scandal-riddled two months in South America. Inadequately built venues and athlete housing, sanitary issues, issues over criminal activity, 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 maybe not to host an Olympics. But it will probably stay that real means for decades in the future due towards 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.

Bottom Line

Oxford University recently compiled data about what it takes to host the Olympics. With costs modified for inflation, from 1960 through Sochi in 2014, the price that is average $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 Vegas are looked at as Sin City, but that doesn’t mean the destination is awash in booze 24/7. Well, actually, maybe its. However when it involves determining the drunkest cities in America, Las 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 a night, it will not be enough to declare the whole city of Las Las Vegas among the drunkest places on the map. (Image: o2ip.com)

Research carried out by financial news web site 24/7 Wall Street looked to determine 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 hardly constitutes a health risk that is civic.

The study found the biggest drunks weren’t seen stumbling across the Strip or passed out in a casino lobby. Spoiler alert: in ranking the drunkest cities, the main destination was Green Bay, Wisconsin.

Las Vegas don’t even crack the Top 20. So just what gives? Scroll through record, and you notice some patterns. Most of the towns during the top are in the Midwest, a great deal are in college towns, and the majority of were in places which are super-cold for more than half the season.

Hawaii of Wisconsin had nine urban centers on record. Three places in Iowa made the top 20. Minnesota and North Dakota also made showings that are respectable. And also Fairbanks, Alaska, let it be known they will have something to offer that Las Vegas does not.

Just What Doesn’t Happen in Vegas …

For just one, unlike many towns on the list, Las Vegas isn’t much of a college town, at the very least maybe not of this kind where tailgating has made Saturday morning binge drinking a residential area affair. The number of large state college cities that made the list can invariably rely on a new crop of children moving to town, ready in the future of age not too far from campus.

There’s UNLV, with 28,000 pupils, but the majority of them are commuters. And also for those who do like to party, it’s different when they can simply blend in with the crowds at casinos and nightclubs within stumbling distance (or maybe merely a cheap Uber ride) from your home.

Likewise, gambling enterprises 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 free alcohol and other comps for those who aren’t necessarily high rollers.

And while tourists arrive at town to party hard, the Las Vegas metro area hosts nearly 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.

Boozer’s Methodology

The methodology in this study used data that are self-reported the departments of health and individual services in 381 metropolitan areas to ascertain the prevalence of excessive consuming, which correlated with final amount of bars and a portion of automobile fatalities where alcohol was involved.

The study that is same compiled a list of the ‘driest’ metropolitan areas in America. Another spoiler: Provo, Utah, had been number one. The home of BYU boasts only 10 bars in town and only 8.5 percent of the adult population experienced in excessive drinking despite being a college town.

Fortunately, for those charged with promoting Las vegas, nevada while 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 quantity 21.

If anything, the 24/7 study evaluated indicators of problem drinking, not simply number of booze consumed. So while many may fondly recall Las vegas, nevada as 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 anything, it’s that the plastic match series is any such thing but a foregone conclusion.

LeBron James’ defending champs will be the 2017 underdogs according to your NBA Finals odds, but 21 dukes casino slot games that was also the case an ago year. (Image: Garrett Ellwood/Getty Photos)

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 team that is clearly a perfect 12-0 in this year’s playoffs.

The best-of-seven showdown does not begin until next Thursday, June 1, but Las Vegas sportsbooks are needless to say already using bets. The early action has been on the defending champs while the NBA Finals odds favor Golden State.

The Westgate SuperBook exposed the series prices at Cleveland +220, and Golden State -260. This means a winning $100 bet on the Cavs returns $220, while the same bet on 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, aided by the favorite now at -240.

LeBron James, Kyrie Irving, and Kevin Love look to repeat and provide Cleveland recreations its second major championship in as several years. That follows a 52-year drought that caused many Ohioans anguish over the years.

They face Kevin Durant, who was added towards the already all-star-like Warriors roster last offseason, 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 risk

The Warriors took the 2015 title, defeating LeBron in his first year after going back house from his four-year stint in Miami where he won their first couple of titles. They matched once 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 two teams meet again, ‘ I want to destroy Cleveland. I want to annihilate them.’

Along side deciding which team takes the lead within the NBA that is three-game Finals, analysts believe the identity for the league is also on the line. Will it remain LeBron’s, or is it time to hand the reins over to Curry and Durant?

James Praises Warriors

Following his Eastern Conference Finals win, LeBron dished out plenty of respect for the ‘juggernaut,’ that he faces next as he called them.

James, who is going to their seventh straight Finals and passed jordan on the all-time playoff scoring list on Thursday, said, ‘They’ve been the most readily useful team in our league the past three years. And they’ve added an unbelievable player in Kevin Durant it even more complicated. so it makes’

Ohio Casino Employees Will Soon Find A Way to Gamble In-State

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

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

A bill ready become signed into law in Ohio will rescind a prohibition against casino employees gambling in the Buckeye state, and instead will only prevent them from playing during the accepted place they work. (Image: Toledo Blade)

The law that is current which went into effect right after Ohio voted to legalize casinos on 2010, causes it to 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.

During the time, the stated function ended up being to prevent corruption and collusion, while assuring the general public that Ohio casinos would never cheat them.

Rep. Bill Seitz (R-Cincinnati) introduced a bill to deal with the irrelevance of current statute final 12 months, when he had been a state Senator. Term limitations forced him to leave the Senate, but upon being elected to carry on serving in the home, he brought the bill with him, and by February it won approval from your house on a 94-3 vote.

His bill revised language of that statutory 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 is clearly a great deal of potential customers who presumably don’t mind spending time in gambling forced traveling to Michigan, Indiana, or Pennsylvania for the place that is nearest to play.

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

Prohibited casino worker gambling is a first-degree misdemeanor punishable by as much as 180 times in jail and a $1,000 fine. Repeat offenses can lead to felony eventually charges. But this has not been a presssing problem, 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 various 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 statement that the law that is new ‘bring Ohio into alignment with neighboring jurisdictions where such an approach has proven reasonable whilst still being maintains the integrity of casino gaming.’

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

In New Jersey, state regulators lifted a ban on workers’ gambling in-state at establishments other than their own host to business in the early 1990s.

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