Hard Rock to Roll Dice on Trump Taj Mahal, Upping Renovation Budget to $500 Million
Hard Rock International doesn’t like what it sees in the Trump that is former Taj in Atlantic City, that the company purchased in March for $50 million.
Tough Rock Chairman Jim Allen, a former trump entertainment resorts employee, is now tasked with renovating his previous boss’s grand vision in Atlantic City.
Billionaire Carl Icahn’s discount price selloff designed the complex Rock was acquiring a Boardwalk property for pennies on the dollar, as former casino developer turned US President Donald Trump built the resort for $1.2 billion in 1990.
But upon closer assessment, rough Rock officials say it is going to cost a penny that is pretty refresh the 2,010-room hotel and gaming space, and rid it of an India-themed décor.
‘The amount of money we’re going to have to spend to eliminate all those minarets and all that purple, Jesus! Exactly What were we thinking?’ Hard Rock Chairman Jim Allen told the Associated Press this week.
The minarets Allen relates to would be the spire and crowns that are onion-shaped ornaments found around 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 professionals state the initial budget of $350 million won’t be nearly enough to trnsform the room into a proper tough Rock Hotel & Casino. Allen estimated that the project’s expense shall increase to at least $500 million.
‘It does us no good to place some guitars regarding the wall and brand new carpets, and state, ‘I’m able to simply take five or 10 percent of the company from Resorts or Harrah’s,” Allen stated.
Anybody who traveled to the Taj Mahal before its October closing understands the work that is serious lies ahead. a dark gaming floor and outdated consuming areas left the casino feeling musty and unclean.
Atlantic City is in the act of finding a new norm in terms of gaming and hospitality revenue. Five casinos closed since 2014, however the economy is showing signs of recovery and turning the part to a far more successful time.
For the very first quarter of 2017, the remaining casino licensees produced $816.7 million in revenue from their casinos, rooms in hotels, food and beverage services, and entertainment. That represents an 8.6 % gain in the period that is same year earlier.
State of the Union
Atlantic City officials will welcome the increased gladly investment from Hard Rock, and maybe more importantly, the organization’s revelation that it plans to reestablish the property’s relationship with the Local 54 casino workers union.
Previous owner Icahn slashed benefits and pay that is flatlined he purchased the Taj Mahal out of bankruptcy in February of 2016. The union ultimately continued a strike, but the billionaire didn’t fold with their demands. The standoff led to Icahn closing, and subsequently attempting to sell, the house once dubbed the ‘eighth wonder associated with the world.’
Allen claims he’ll use neighborhood 54 on a new work agreement.
‘There’s going to be no dispute with Local 54,’ he said. ‘We’re going to put individuals back to work.’
Rio Olympic Infrastructure Left in Economic Chaos, Was It Worth the Gamble?
The Olympics no longer have the upper hand in determining where its summer and cold weather games will be contested. That’s because the sporting that is international have left a path of destruction, both in a financial and infrastructural sense, in present decades.
It was just nine months ago that Michael Phelps capped off his storied Olympics profession in the Aquatics Center in Rio de Janeiro. Built for the 2016 Summer Games at a high price of $38 million, now it sits deteriorating that is vacant. (Image: Mario Tama/Getty Pictures)
Cities are finally wising up that the gamble on hosting the Olympics far outweighs the reward that is potential. 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.
Just to illustrate: Rio de Janeiro. Brazil’s 2016 Olympics price tag was over $12 billion, and what it got in return for its investment that is sizable is cluster of abandoned stadiums and venues that are anticipated to cost the country huge amount of money in maintenance every year.
Two regarding the stadiums constructed for the 2016 games had been earmarked for future use. One was to be renovated into a school, but remains boarded up today. Another, an outside stadium that hosted rugby as well as the modern pentathlon, was scheduled become transformed into a park that is public. In addition stays vacant, and from the Olympics is still littered throughout the venue.
Good for Gambling, Harmful To City
One area that does reap the benefits of hosting an Olympics could 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 same oddsmakers created a handle that barely eclipsed $5 million.
Brazil tried to pass gaming laws prior to its Olympics hosting, but failed. Legalization talks continue today within an effort to find new forms of tax income. Las Vegas Sands billionaire Sheldon Adelson is when such mogul who is reportedly interested in building in Rio should the market become liberalized.
Japan won’t be making the same mistakes as Brazil. Its National Diet passed a built-in 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 months in South America. Inadequately built venues and athlete housing, sanitary problems, issues over crime, the Zika virus, and more plagued the games.
The International Olympic Committee can cross South America off its list, leaving Africa as the only continent that is inhabitable to host an Olympics. But it will probably stay that way for decades to come due towards the ever-growing cost 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.
Oxford University recently compiled data on what it requires to host the Olympics. With costs modified for inflation, from 1960 through Sochi in 2014, the price that is average $5.2 billion for the Summer Games, and $2 billion for the Winter Games.
Las Vegas Not Drunk Enough to Make List of Top 20 Booziest Cities
Las Vegas can be considered as Sin City, but that doesn’t mean the place is awash in booze 24/7. Well, actually, maybe it’s. But when it involves determining the cities that are drunkest America, nevada hasn’t got a thing on Midwestern metropolises such as for instance Dubuque, Iowa, Lincoln, Nebraska, or Milwaukee, Wisconsin.
In spite of how much this guy can throw back in a night, it will not be enough to declare the whole city of Las Vegas among the drunkest places on the map. (Image: o2ip.com)
A report carried out by financial news site 24/7 Wall Street looked to identify the 20 drunkest cities in the us based on rates of excessive imbibing rate as well as other factors associated to alcohol-fueled ills that are social. Record revealed that while Las Vegas’ reputation as a party city may be well-deserved, it barely constitutes a civic health danger.
The study discovered the greatest drunks weren’t seen stumbling over the Strip or passed away out in a casino lobby. Spoiler alert: in ranking the drunkest cities, the number one destination was Green Bay, Wisconsin.
Las vegas, nevada didn’t crack the Top even 20. So just what gives? Scroll through the list, and some patterns are noticed by you. Nearly all of the towns at the top are in the Midwest, a lot are in college towns, and nearly all were in places being super-cold for more than half the year.
Their state of Wisconsin had nine cities on record. Three places in Iowa made the top 20. Minnesota and North Dakota also made showings that are respectable. And also Fairbanks, Alaska, let it be known they have something to offer that Las Vegas does not.
Exactly What Doesn’t Take Place in Vegas …
For starters, unlike most towns on the list, Las Vegas isn’t much of a college town, at least perhaps not of this kind where tailgating has made Saturday morning binge drinking a residential area affair. The number of large state college cities that made the list can invariably rely for a new crop of kids moving to city, ready to come of age not too far from campus.
There’s UNLV, with 28,000 students, but most of them are commuters. And even for those who do like to party, it’s different whenever they may be able just merge with the crowds at casinos and nightclubs within stumbling distance (or maybe only a cheap ride that is uber from home.
Similarly, gambling enterprises may have a reputation for plying gamblers with free booze, but really that trend is rescinding, as corporate Las Vegas gambling enterprises are reducing the breeziness with which they dole out alcohol that is free other comps for people who aren’t necessarily high rollers https://myfreepokies.com/21-dukes-casino/.
And while tourists arrived at town to party hard, the Las Vegas metro area houses almost 2 million residents, most of whom are maybe 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.
The methodology in this study used data that are self-reported the departments of health and individual services in 381 metropolitan areas to determine the prevalence of excessive drinking, which correlated with total number of bars and a portion of auto fatalities where alcohol was involved.
The exact same study also compiled an inventory of the ‘driest’ urban centers in the us. Another spoiler: Provo, Utah, had been number one. The home of BYU boasts only 10 bars in town and only 8.5 percent of the adult population experienced in excessive drinking despite being a college town.
Fortunately, for those charged with marketing vegas while the world’s premiere party destination, Las vegas, nevada was nowhere near to making that list.
Another recent research of ‘Drunkest Cities in America’ by The Daily Beast used slightly different metrics, and still Las Vegas couldn’t crack the top 20, coming in at quantity 21.
If anything, the 24/7 study evaluated indicators of problem drinking, not simply volume of booze consumed. So even though many may fondly recall Las Vegas as an accepted spot where they drank more than they thought humanly possible, being a city it’s a place that does pretty well keeping its liquor.
NBA Finals Odds Favor Golden State Over Cleveland in Rubber Match Series
The NBA Finals odds in Las Vegas favor the Golden State Warriors to win the Larry O’Brien Trophy over the Cleveland Cavaliers for the third straight year. But if history informs us anything, it’s that the rubber match series is such a thing 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 situation a 12 months ago. (Image: Garrett Ellwood/Getty Photos)
The Cavs took care of business by beating the Boston Celtics to end the series in five games on Thursday night. 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 doesn’t 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 prefer Golden State, the early action has been on the protecting champs.
The series was opened by the Westgate SuperBook prices at Cleveland +220, and Golden State -260. That means a winning $100 bet on the Cavs returns $220, while the same bet on the Warriors returns just $38.46.
However, the chances are tilting in Cleveland’s benefit since these people were first posted. The moneyline has shrunk the Cavs’ chances to +200, using 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 many years. That follows a 52-year drought that caused many Ohioans anguish on the decades.
They face Kevin Durant, who was simply added to your 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 away from Bay Area and Ohio wanted to see. That includes oddsmakers, which stay to see heavy gambling on the Finals rivalry.
More Than Rings on the line
The Warriors took the 2015 title, defeating LeBron in his first year after going back home from their four-year stint in Miami where he won their first two titles. They matched once again 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 off the unthinkable in finding its way back and upsetting the champs.
Now, it’s Golden State’s seek out get revenge. Final autumn, Green said should the two teams meet again, ‘ I would like to destroy Cleveland. I desire to annihilate them.’
Along side determining which team takes the lead within the NBA that is three-game Finals, analysts believe the identity associated with the league normally at risk. Does it stay LeBron’s, or perhaps is it time to hand over the reins to Curry and Durant?
James Praises Warriors
Following their Eastern Conference Finals win, LeBron dished down plenty of respect for the ‘juggernaut,’ as he called them, that he faces next.
James, that is going to his seventh right Finals and passed Michael Jordan regarding the all-time playoff scoring list on Thursday, said, ‘They’ve been the most useful team in our league going back three years. And they’ve added an unbelievable player in Kevin Durant so it makes it also more challenging.’
Ohio Casino Employees Will be Able to soon Gamble In-State
Ohio casinos are about to gain 1000s of new players that are prospective because of the individuals who work for them.
The Ohio Senate voted on Wednesday 32-0 to eliminate a prohibition on casino employees gambling in any of hawaii’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 simply avoid them from playing at the accepted place they work. (Image: Toledo Blade)
The current law, which went into effect right after Ohio voted to legalize casinos on 2010, causes it to be a first-degree misdemeanor for employees to gamble at any casino into the Buckeye State.
It applies to dealers, wait staff, executives, entertainers, valet parkers, maintenance workers, and simply about anyone else who works in or for the casino.
During the time, the stated function had been 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 handle the irrelevance of current statute year that is last whenever he had been a state Senator. Term limitations forced him to leave the Senate, but upon being elected to continue serving inside your home, 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 law to say casino employees had been only forbidden from gambling at their place of business, or any affiliated properties in-state.
All Work and No Play?
Ohio casinos employ more than 9,000 people. That is clearly a great deal of potential prospects who presumably have an interest in gambling forced traveling to Michigan, Indiana, or Pennsylvania for the nearest place to play.
Existing law doesn’t affect employees at the state’s seven ‘racinos,’ an inequity the bill that is new to address.
Prohibited casino employee gambling happens to be a first-degree misdemeanor punishable by as much as 180 times in jail and a $1,000 fine. Repeat offenses can eventually lead to felony charges. But this has not been a presssing issue, as so far, zero casino operators or employees have been prosecuted.
‘After five years of regulating and enforcing the law at Ohio’s casinos, we never have had a situation 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 internal controls unique to each casino operator, it would be difficult to also attempt.’
Schuler said in a declaration that the brand new legislation will ‘bring Ohio into alignment 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 in position when they legalized gambling in 2006. They rescinded the restriction on in-state gambling in 2012, using it instead just to one’s where you work.
In New Jersey, state regulators lifted a ban on employees’ gambling in-state at establishments other than their place that is own of in the first 1990s.