Inside Gaming: Two Atlantic City Casinos Set to Open Next Week
Next Thursday, June 28 is a big day for Atlantic City in particular and the casino industry in general with two new casinos are scheduled on the city's famed boardwalk. Also, Mississippi leads the charge as more states move to start allowing sports betting in the wake of the U.S. Supreme Court's recent ruling.
Ready to Rock: Hard Rock Atlantic City Opens June 28
Two months ago the owners of the Hard Rock Hotel Casino Atlantic City announced that doors would open on the property Thursday, June 28. That plan remains in place, with the ribbon-cutting scheduled along with a predictable emphasis on music for the rock-n-roll themed chain.
After a $500 million renovation, the casino will feature 2,100 slots and 120 table games, with 2,000 hotel rooms, a nightclub, and a 7,000-seat concert venue newly named the Hard Rock Live (formerly known as the Etess Arena). Carrie Underwood and PitBull will headline shows this weekend, with over 300 concerts planned during the first year.
The property is located on the site of the old Trump Taj Mahal that shuttered its doors in October 2016 after 26 years. In early March 2017 came the news of Hard Rock International's intention to buy the property, with initial reports suggesting a purchase price of $300 million. However, filings in May 2017 showed the actual price tag to have been closer to $50 million.
The closing of the Trump Taj Mahal was the fifth Atlantic City casino to shut its doors in the space of three years, leaving just seven in operation on the boardwalk.
Matt Harkness, president and general manager of Hard Rock Atlantic City, expressed excitement to NJ.com about the opening as well as hopes to be part of a larger revival on the boardwalk.
"We really want to revitalize Atlantic City," said Harkness. "And those just sound like words, but it really is something that is part of the philosophy. Hard Rock has done this in other communities."
There was one small faux pas in the preparations for the opening. On one of the two giant 30-foot-tall iconic Hard Rock guitars being installed near the entrance there was a misspelling — the word "rhythm" on the rhythm and treble switch reading "rhythem." WTOP reports the error was corrected yesterday afternoon.
Ocean Resort Casino Gets License, Also Opens Doors Thursday
While the Hard Rock had its approvals and licensing in place some time ago, it was only yesterday that state regulators granted a license to the owners of the Ocean Resort Casino, located at the site of the long-closed Revel Casino on the Atlantic City boardwalk, reports CBS Philly. That means the Ocean Resort will be able to open its doors next week as well, like the Hard Rock on June 28.
The Ocean Resort Casino is located at the site of the failed Revel Casino Hotel Atlantic City that first opened in 2012 only to close two-and-a-half years later in 2014.
The property was purchased in 2015 by Florida developer Glenn Straub, who subsequently would indicate various intentions for the property including at one point changing its name to TEN Atlantic City before finally selling it for $200 million in January 2018 to the Colorado-based group AC Ocean Walk LLC.
Among the conditions set by NJ regulators "is that Ocean Resort maintain at least $36 million of liquidity at all times, a condition to which the casino agreed," CBS Philly reports. The casino will also begin to offer online gambling starting July 1.
The 138,000-square-foot casino will feature 99 table games, over 1,900 gaming machines, and a sportsbook, while the hotel will have 1,399 rooms.
Also worth noting, The Showboat hotel located in between the Hard Rock and Ocean Resort will be opening all 1,331 of its rooms starting June 28 as well after having only recently had 852 rooms available.
Mississippi, Other States Move Closer to Offering Sports Betting
Yesterday morning the Mississippi Gaming Commission voted in favor of regulations to permit sports betting in the state, setting the stage for Mississippi's casinos to begin taking sports wagers in 30 days on July 21.
WREG-TV reports the state's regulators voted unanimously and without discussion to approve the new rules previously submitted just after the U.S. Supreme Court's ruling in May that the federal prohibition on sports betting was unconstitutional.
According to the regulations, only casinos — i.e., current license holders — will be able to provide sports betting when the rules are finalized in 30 days, although other "service providers are already applying for licenses." In anticipation of the SCOTUS ruling, Mississippi last year altered a law allowing daily fantasy sports to allow sports betting as well.
Also on Thursday, the West Virginia Lottery Commission held an emergency meeting in which they, too, approved regulations to allow the state's five casinos to offer sports betting, reports WV Metro News. After passing sports betting legislation earlier in the year, WV officials hope to have sports betting "up and running by football season" if not soon afterwards.
Meanwhile earlier this week both houses of Rhode Island's state's legislature voted in favor of a budget plan that will pave the way for sports betting there as well, reports the Providence Journal. Governor Gina Raimondo is expected to sign the bill into law today which will permit the state's two Twin River casinos to offer sports betting, likely to start in October.
Finally, not joining the rush to offer sports betting will be New York where legislators ended their current session this week without passing any sports betting bill despite efforts in that direction in both the state's Senate and General Assembly. Unlike bills passed elsewhere, the NY bills included so-called "integrity fees" professional leagues had been seeking. See the Legal Sports Report for more on the current situation and future prospects for sports betting in the Empire State.
