Hard Rock considers opening Casino in Atlantic City

With the way that Atlantic City has struggled in recent years, it seems that no casino would consider entering the market any time soon. However, Florida’s Seminole Indians, who own the Hard Rock casino brand, are once again thinking about the East Coast gambling mecca.

The New Jersey Casino Control Commission will now hold a meeting to discuss preliminary approval for a Hard Rock casino in Atlantic City. Last year, the Seminoles applied for a “statement of compliance,” which is the first step to becoming licensed in New Jersey.

James Allen, Hard Rock’s CEO, stated in a regulatory filing that his company has “a long-standing interest” in Atlantic City. And as Trentonian reports, Hard Rock “remains interested in the Atlantic City casino industry and may, if found qualified, engage in a business or activity that would require the issuance of a casino license. The issuance of a statement of compliance to Hard Rock Atlantic City will enable it to act quickly if an appropriate investment opportunity arises in the Atlantic City casino market.”

Hard Rock’s 2011 proposal was for a “boutique” casino-hotel with a rock n’ roll theme, however, they got rid of this plan. The state of New Jersey normally has a 500-room minimum for hotels, but they were going to make an exception for Hard Rock. Then the company chose to scrap their plan “due to current market conditions.” It’s unclear what their exact plan is this time around, whether it be boutique or above/less than 500 rooms.

Just last week, Gov. Chris Christie called an “emergency team” to Atlantic City in hopes of revitalizing the casino mecca. Once again, the city experienced a downturn, seeing its revenue drop 4.47% last year to $2.74 billion. And 2014 was especially bad since four of the city’s 12 casinos closed, including Atlantic Club, Revel, Showboat and Trump Plaza.

For this reason alone, it seems that no casino would want to brave the Atlantic City market. But then again, maybe Hard Rock sees an opening now that four casinos have closed. All along, industry analysts have predicted that at least 5 casinos would need to vacate the market for Atlantic City to stabilize. That mark hasn’t yet been reached, however, perhaps there’s enough room for Hard Rock to succeed with a unique plan.