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Hard Rock Purchases Trump Taj Mahal for $300 million

Tags: Atlantic City, Hard Rock International, Trump Taj Mahal
Posted on Tuesday, March 07, 2017 by "T".
Once upon a time, the Taj Mahal was tagged as the flagship of Trump's casino empire. Icahn has agreed to sell it now as he whittles down his gambling-related holdings. Hard Rock International said that it plans to renovate and soon reopen the recently-closed Trump Taj Mahal casino situated in Atlantic City, New Jersey, and they have purchased it for $300 million, including the cost of the property[...]   Read more » Hard Rock Purchases Trump Taj Mahal for $300 million

  7-Mar-17, 19:11   #1
Hard Rock Purchases Trump Taj Mahal for $300 million 0 
Gerimantas 
Joined: Jan '17
Location: Lithuania
Age: 59 (M)
Posts: 860
I remeber I first heard about trump taj mahal when I watched apprentice reality show with donald trump, who now is president of united staes of america. I am not big businessman but I think this was a well known brand, so if new owners had chance why not keep it?

     
  7-Mar-17, 20:38   #2
  0 
Mober 
Joined: Mar '09
Location: Greece
Age: 40 (F)
Posts: 11619
Maybe they got it now since it may get some more value with the latest developments.
300 million is quite something.
They are also a company that has the potential of course to make a profit out of it, very soon.
And it will boost the local economy also with the jobs that will create.

     
  7-Mar-17, 21:27   #3
  0 
pochui 

Joined: May '08
Location: Lithuania
Age: 33 (M)
Posts: 9751
i kinda have a fat grin on my face when hearing that company, especially gambling orientated company is owned by the tribe... a picture from the smokes of weed arises... indians sitting around the fireplace, roasting a couple of guinea pigs and talking about buying taj mahal for $300 millions...

     
  8-Mar-17, 04:55   #4
  0 
Robbo1990 

Joined: Dec '12
Location: New Zealand
Age: 27 (M)
Posts: 469
Not sure if its smart, unless 300mill is well under the original price. there have been a few big developments in Atlantic city go for well below cost. Its a area that has struggled in the current decade, and with places like japan and the phillipines opening up along with every city in America having a casino or two I find it hard to see how it will return to its glory years

     
  8-Mar-17, 09:48   #5
  0 
doubletop777 
Joined: Mar '11
Location: United Kingdom
Age: 48 (M)
Posts: 6457
I know that $300 million is a heck of a lot of money but it does seem a reasonable price for such an iconic casino. I think that they will get their money back in the next few years

     
  8-Mar-17, 12:17   #6
  0 
pajalnick 

Joined: Mar '11
Location: Russian Federation
Age: 45 (M)
Posts: 3995
Three hundred million is certainly very big money but if you use this casino wisely (and it seems to me that the mind of these people certainly does have it) in a few years the money will be received back and there will be a good profit ... so it seems to me

     
  8-Mar-17, 12:33   #7
  -1 
dule-vu 

Joined: May '09
Location: Croatia
Age: 32 (M)
Posts: 4877
so who signed this sale,donald trump as president or somebody else in his name?its strange that this was closed and that he didnt manage to earn from this mahal and now hard rock will earn,because they know how this business go!

     
  8-Mar-17, 15:58   #8
  0 
Ingrind33 

Joined: Sep '15
Location: Netherlands
Age: 35 (F)
Posts: 853
The story of the Hard Rock Cafe goes something like this, there was a tribe who sold their land. They were originally already there since the 1500's. The money they earned with that, went to the plan to buy the Hard Rock Cafe Franchise.

So basically a group of native Americans owns this franchise. It was a smart move cause they made better money then the last owner. I think they see the same potential for this plan. Buy a not well running " famous " business and make it a success story. These are some smart as-s Natives I might say.

As for trump, I don't know what the orginal plan was, but it's kinda strange to have a casino as president. Cool

     
  8-Mar-17, 17:20   #9
  +1 
bowie1984 

Joined: Apr '12
Location: Hungary
Age: 33 (M)
Posts: 5353
Somehow I still think they relatively overpayed for it considering that Atlantic City is on the verge of collapse for quite some time now.
Every day there is a new indian casino growing from the ground somewhere which gonna steal more traffic from Atlantic City away since they do not have the broad (family wide) entertainment appeal Las Vegas has and nobody really likes New Jersey anway. Hence their tourists decline.

     
  8-Mar-17, 21:06   #10
  0 
Mober 
Joined: Mar '09
Location: Greece
Age: 40 (F)
Posts: 11619
It wont go down, the entire area.
Some of them will survive and prosper in spite the problems.
And they will try to become one of the remaining ones.
And it will attract tourists, in the future, just for, who the previous owner was Smile

     
  9-Mar-17, 02:52   #11
  -1 
Robbo1990 

Joined: Dec '12
Location: New Zealand
Age: 27 (M)
Posts: 469
Aww crap! obviously this casino hasnt been apart of trumps portfolio for awhile.....so he had nothing to do with the sale lol

it is quite funny though, the natives run the casino/gambling institutions which (in this country) they dont give back to, so its only a few natives who prosper and the rest are in poverty.

     
  9-Mar-17, 21:21   #12
  0 
Mober 
Joined: Mar '09
Location: Greece
Age: 40 (F)
Posts: 11619
He may had nothing to do with the sale, but it will be always a casino that he
owned at some point.
How many tourists are after a spot that some famous person once ate or slept there Smile
Thats what i was talking about if you were referring to my post Smile

     
  10-Mar-17, 01:40   #13
  0 
bowie1984 

Joined: Apr '12
Location: Hungary
Age: 33 (M)
Posts: 5353
Posted by Mober:
He may had nothing to do with the sale, but it will be always a casino that he
owned at some point.
How many tourists are after a spot that some famous person once ate or slept there Smile
Thats what i was talking about if you were referring to my post Smile

He is selling his brand rather than real estate anyway, so him being not even slightly connected with this deal and still coming out as a participator in it when they write the articles about it makes perfect sense.

     
  12-Mar-17, 10:04   #14
  0 
Tony_MON7ANA 

Joined: Mar '14
Location: Japan
Age: 43 (M)
Posts: 6176
I have been to Hard Rock Hotels and Casinos across the United States and I really liked them. 'The Joint' in Vegas is one of my favorite. I would love to visit this new establishment in Atlantic City sometime in the near future.

     
  12-Mar-17, 13:06   #15
  0 
Ingrind33 

Joined: Sep '15
Location: Netherlands
Age: 35 (F)
Posts: 853
Posted by bowie1984:
indian casino


Native American Tongue

     
  12-Mar-17, 14:04   #16
  +2 
PokerKing76 

Joined: Dec '11
Location: Canada
Age: 41 (M)
Posts: 773
Posted by Tony_MON7ANA:
I have been to Hard Rock Hotels and Casinos across the United States and I really liked them. 'The Joint' in Vegas is one of my favorite. I would love to visit this new establishment in Atlantic City sometime in the near future.



I am going to Hard Rock Hotels and Casinos in Hollywood, Florida
Remember my trip to vegas this summer to play World Poker Tour League Championship?
Well this year its in that hotel Big Smile And yesterday I won my buy-in.
During the week, WPT Tournament of Champion will be held (7-8-9 april) Big Smile Big Smile
All the winner of season XV will be there. I will try to take some pictures LOL

More info on my trip in Florida in a new thread soon...

     
  12-Mar-17, 15:00   #17
  0 
pajalnick 

Joined: Mar '11
Location: Russian Federation
Age: 45 (M)
Posts: 3995
Posted by PokerKing76:
Posted by Tony_MON7ANA:
I have been to Hard Rock Hotels and Casinos across the United States and I really liked them. 'The Joint' in Vegas is one of my favorite. I would love to visit this new establishment in Atlantic City sometime in the near future.



I am going to Hard Rock Hotels and Casinos in Hollywood, Florida
Remember my trip to vegas this summer to play World Poker Tour League Championship?
Well this year its in that hotel Big Smile And yesterday I won my buy-in.
During the week, WPT Tournament of Champion will be held (7-8-9 april) Big Smile Big Smile
All the winner of season XV will be there. I will try to take some pictures LOL

More info on my trip in Florida in a new thread soon...

Interesting information dude .... I hope that soon we will all learn about a good trip and a good win ... I wish you good luck and believe that you will be able to make a good profit ... good luck

     
  12-Mar-17, 21:58   #18
  +1 
Mober 
Joined: Mar '09
Location: Greece
Age: 40 (F)
Posts: 11619
Better focus on your game first and leave the pictures for the end of the event.
It will be a great experience and feeling, playing in a tournament like this.
Less than a month left for you. Get ready and good luck, with a final table Smile Thumbs Up

     
  13-Mar-17, 10:21   #19
  +1 
Tony_MON7ANA 

Joined: Mar '14
Location: Japan
Age: 43 (M)
Posts: 6176
Posted by PokerKing76:
I am going to Hard Rock Hotels and Casinos in Hollywood, Florida
Remember my trip to vegas this summer to play World Poker Tour League Championship?
Well this year its in that hotel And yesterday I won my buy-in.
During the week, WPT Tournament of Champion will be held (7-8-9 april)
All the winner of season XV will be there. I will try to take some pictures LOL

More info on my trip in Florida in a new thread soon...

Congratulations, PokerKing77, on winning a seat to the 2017 World Poker Tour League Championship main event. I haven't been to Seminole Hard Rock Hotel & Casino in Hollywood, FL, but I heard that is a great place to stay and play. Good luck next month.

     
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