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

Complex Rock International does not like what it sees inside the previous Trump Taj Mahal in Atlantic City, that your company purchased in March for $50 million.

Complex 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 meant 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 assessment, tough Rock officials say it is likely to cost a penny that is pretty refresh the 2,010-room hotel and video gaming area, and rid it of a India-themed décor.

‘The sum of money we’re going to have to invest to remove all those minarets and all that purple, Jesus! 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 found round the Trump Taj Mahal.

Hard Rock Ups Ante

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

‘It does us no good to place some guitars on the wall and carpets that are new and state, ‘I’m able to just take five or 10 percent of this company from Resorts or Harrah’s,” Allen said.

Whoever traveled to the Taj Mahal before its October closing understands the severe work that lies ahead. a dark gaming flooring and outdated consuming areas left the casino feeling musty and unclean.

Atlantic City is in the act of getting a norm that is new regards to gaming and hospitality income. Five gambling enterprises closed since 2014, however the economy is showing signs of recovery and turning the part to an even more prosperous time.

For the very 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 percent gain regarding the same duration a year earlier.

State of the Union

Atlantic City officials will gladly welcome the increased investment from Hard Rock, and perhaps moreover, the organization’s revelation that it plans to reestablish the property’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 sooner or later proceeded an attack, but the billionaire don’t fold to their demands. The standoff led to Icahn closing, and afterwards selling, the home once dubbed the ‘eighth wonder associated with global world.’

Allen claims he’ll assist Local 54 on a labor contract that is new.

‘There’s going become no dispute with Local 54,’ he said. ‘We’re 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 course of destruction, both in a financial and infrastructural sense, in recent decades.

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

Cities are finally wising up that the gamble on hosting the Olympics far outweighs the possible reward. The likelihood 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 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 maintenance each year.

Two of the stadiums constructed for the 2016 games were earmarked for future usage. One was to be renovated into a college, but remains boarded up today. Another, an outside stadium that hosted rugby and the modern pentathlon, was scheduled become changed right into a park that is public. It also stays vacant, and from the Olympics is still littered through the venue.

Good for Gambling, Harmful To City

One area that does take advantage 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 oddsmakers that are same a handle that barely eclipsed $5 million.

Brazil attempted to pass video gaming laws prior to its Olympics hosting, but failed. Legalization talks carry on today in an work to locate new forms of tax revenue. Las Vegas Sands billionaire Sheldon Adelson is when such mogul who is reportedly interested in building in Rio should the market become liberalized.

Japan will not be making the mistakes that are same Brazil. Its National Diet passed an integrated resorts bill to end commercial gambling prohibition 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 days in South America. Inadequately built venues and athlete housing, sanitary issues, concerns over criminal activity, the Zika virus, and more plagued the games.

The International Olympic Committee can cross Southern America off its list, leaving Africa as the only inhabitable continent not to host an Olympics. But it will likely stay that real means for decades to come 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 on which it requires to host the Olympics. With costs modified for inflation, from 1960 through Sochi in 2014, the typical price had been $5.2 billion for the Summer Games, and $2 billion for the Winter Games.

Las Vegas maybe not Drunk Enough to Make List of Top 20 Booziest Cities

Las Vegas could be looked at as Sin City, but that doesn’t mean the destination is awash in booze 24/7. Well, actually, maybe it’s. But when it concerns determining the cities that are drunkest America, 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 an evening, it’s not going to be enough to declare the whole city of Las Las Vegas one of the drunkest places on the map. (Image: o2ip.com)

A report conducted by financial news internet site 24/7 Wall Street looked to identify the 20 drunkest cities in America based on rates of excessive imbibing rate as well as other factors associated 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 found the largest drunks weren’t seen stumbling across the Strip or passed out in a casino lobby. Spoiler alert: in ranking the drunkest cities, the top destination was Green Bay, Wisconsin.

Las vegas did not also split the Top 20. Therefore what gives? Scroll through the list, and you notice some patterns. Nearly all of the towns during the top are in the Midwest, a whole lot come in college towns, and almost all were in places which are super-cold for more than half the year.

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

Exactly What Doesn’t Take Place in Vegas …

For starters, unlike most towns in the list, Las Vegas isn’t much of a college town, at the least maybe not associated with sort where tailgating has made Saturday morning binge drinking a community affair. The number of large state school cities that made the list can invariably depend on a new crop of kids moving to town, ready to come of age not too far from campus.

There’s UNLV, with 28,000 pupils, but the majority of them are commuters. And even for those who do like to party, it’s not the same when they can just merge with the crowds at casinos and nightclubs within stumbling distance (or maybe merely a cheap ride that is uber from your 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 free alcohol and other comps for those who aren’t necessarily high rollers.

And while tourists come to town to party hard, the Las Vegas metro area houses almost 2 million residents, most of whom are 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 data from the departments of health and peoples solutions in 381 metropolitan areas to ascertain the prevalence of excessive drinking, which correlated with total number of bars and a portion of automobile fatalities where alcohol was involved.

The same study additionally compiled an inventory of the ‘driest’ urban centers in the us. Another spoiler: Provo, Utah, ended up being quantity one. Despite being a university city, the home of BYU boasts only 10 bars in town and only 8.5 percent regarding the adult population experienced in extortionate drinking.

Fortunately, for those charged with promoting vegas while the planet’s premiere party destination, Las Vegas was nowhere close to making that list.

Another recent study of ‘Drunkest Cities in America’ by The Daily Beast used somewhat different metrics, but still Las vegas, nevada couldn’t split the top 20, coming in at quantity 21.

If anything, the 24/7 study evaluated indicators of problem drinking, not simply amount of booze consumed. So while many may fondly recall vegas as an accepted spot where they drank more than they thought humanly possible, as being a city it’s a place that does pretty much keeping its liquor.

NBA Finals Odds Prefer Golden State Over Cleveland in Rubber Match Series

For the 3rd straight year, the NBA Finals odds in Las Vegas favor the Golden State Warriors to win the Larry O’Brien Trophy within the Cleveland Cavaliers. But if history tells us any such thing, it’s that the rubber match series is anything but a conclusion that is foregone.

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

On Thursday evening, the Cavs took care of business 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 does not begin until next Thursday, June 1, but Las Vegas sportsbooks are needless to say bets that are already taking. Even though the NBA Finals odds favor Golden State, early action is on the defending champs.

The Westgate SuperBook opened the series prices at Cleveland +220, and Golden State -260. Meaning a winning $100 bet on the Cavs returns $220, while the bet that is same the Warriors returns just $38.46.

However, chances are tilting in Cleveland’s benefit since these people were first posted. The moneyline has shrunk the Cavs’ chances to +200, with all 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 several years. That follows a drought that is 52-year caused many Ohioans anguish over the years.

They face Kevin Durant, who had been 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 21 dukes casino download and Ohio wanted to see. That includes oddsmakers, which stand to see heavy betting on the Finals rivalry.

More Than Rings on the line

The Warriors took the 2015 title, defeating LeBron in his first year after coming back home from their four-year stint in Miami where he won his first couple of 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 down the unthinkable in coming back and upsetting the champs.

Now, it’s Golden State’s move to get revenge. Last fall, Green said need the 2 teams meet again, ‘ I would like to destroy Cleveland. I desire to annihilate them.’

Along side determining which team takes the lead into the NBA that is three-game Finals, analysts believe the identity regarding the league normally on the line. Can it remain LeBron’s, or is it time to hand the reins over to Curry and Durant?

James Praises Warriors

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

James, who’s going to their seventh straight Finals and passed 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. In addition they’ve added an unbelievable player in Kevin Durant so it makes it even more difficult.’

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

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

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

A bill ready become finalized into legislation in Ohio will rescind a prohibition against casino employees gambling in the Buckeye state, and instead will only prevent them from playing at 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, helps it be a first-degree misdemeanor for workers to gamble at any casino within the Buckeye State.

It relates to dealers, wait staff, executives, entertainers, valet parkers, maintenance workers, and simply about anyone else who works in or even for the casino.

During the time, the stated purpose was to prevent corruption and collusion, while assuring the public that Ohio gambling enterprises would never cheat them.

Rep. Bill Seitz (R-Cincinnati) introduced a bill to address the irrelevance of present statute final year, whenever he had been a state Senator. Term limitations forced him to leave the Senate, but upon being elected to carry on serving in the House, he brought the bill with him, and by February it won approval from the House on a 94-3 vote.

His bill revised language of that statutory law to state casino employees had been only forbidden from gambling at their office, or any affiliated properties in-state.

All Work and No Enjoy?

Ohio casinos employ a lot 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 sought to address.

Illegal casino worker gambling happens to be a misdemeanor that is first-degree by up to 180 times in jail and a $1,000 fine. Repeat offenses can sooner or later lead to felony charges. But this has not been a presssing issue, as so far, zero casino operators or workers have been prosecuted.

‘After five years of regulating and enforcing what the law states 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 interior controls unique to each casino operator, it could be difficult to also attempt.’

In-State’s Rights

Schuler said in a declaration that the brand new legislation will ‘bring Ohio into positioning with neighboring jurisdictions where such an approach has proven fair whilst still being maintains the integrity of casino gaming.’

Pennsylvania had a prohibition similar to Ohio’s set up when they legalized gambling in 2006. They rescinded the restriction on in-state gambling in 2012, applying it instead just to an individual’s job.

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

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