The new era of casino gambling has arrived in Atlantic City on June 28th. Indeed, only weeks ago and 2 new casinos open their doors. And one of them being, of course, the Hard Rock. Yet it seems that the Hard Rock is not done expanding! In fact, in a recent interview, Hard Rock’s CEO Jim Allen suggested, that the company has its eyes on north NJ. Why? Because it’s closer to New York and the area has 14 million people living within 50 miles!
Hard Rock invested half a billion dollars in its Atlantic City building. And rest assured, they have no intention to close down the AC venue right after opening it! But up to $1 billion of projected yearly revenue of a potential casino in the proximities of NYC has a huge appeal too! In fact, in a recent analyses Jeff Gural, who operates the Meadowlands track, thinks that a new casino in the north of NJ would do exceptionally well!
But it’s not going to happen tomorrow! Indeed, before the Meadowlands open up to land-based casinos, significant constitutional changes are needed. Because as you know, at the moment, only Atlantic city permits brick and mortar casinos. But as all wise businessman do, Jim Allen seems to be open to the possibility to expand up North. Even if it’s in many many many years.
So let’s extrapolate where could Hard Rock open
All and all, all signs point at East Rutherford. An AP study found it would become immediately one of the most profitable places in the country. At least, if there is no close direct competitor to it. Or if New York State itself allows for a casino in the city.
Current federal laws give each state the right to do so. But in the case of NY, it seems to be a somewhat distant chant. But as you know, things move fast in this business! So, it’s probable that all eyes are on NJ’s recent opening to measure the success before committing elsewhere.
Let’s see what the future as in store for the North!