by Steve Norton
CEO, Norton Management

Visitors on the Atlantic City Boardwalk hyped for Hard Rock casino | News | pressofatlanticcity.com

It is great news that the Taj Mahal will reopen; and even better news that it will be owned and operated by the Hard Rock Company, that is familiar with destination casinos. We should also remember that Hard Rock has, or had, an agreement with the Meadowlands, to operate a North Jersey casino there, if approved by NJ voters.

Unfortunately the opponents, misrepresented the benefits to New Jersey and Atlantic City, if a single casino were to bring back much of the revenue, being spent by NJ citizens in Eastern Pennsylvania casinos and race track slots at Aqueduct and Yonkers. Because the deal before the Legislature, and not understood by the voters; is that a North Jersey casino, would get 80% or more of its revenue from casinos, other than Atlantic City; but would share substantial revenue with AC and probably double the taxes from gaming to NJ Seniors and the disabled (that have lost over $1.8 billion (since PA slots were opened in Fall 2006).

Hard Rock will expand entertainment offerings and hopefully make a concentrated effort to attract more conventions and trade shows, that primarily come mid-week days and nights in the Fall, Winter and Spring.

As long as the overall economy remains constant, all sources of AC revenues should increase, as there are no gaming projects on the nearby horizon; in the North East, until the Cordish Company develops its Philadelphia facility, around the downtown sports complex.

Hopefully with new management at the Borgata, Taj Mahal and Showboat, the existing mind set, just on gaming, will disappear, and the resort industry will make a concerned effort to attract air service from important hub airports, like Atlanta's Hartsfield International. As and interesting fact, the last time I checked,Atlanta has 93 flights a day, just to Las Vegas (9 non stops), adding up to about 5 million seats annually to Las Vegas.

Welcome back home, Jim Allen, and welcome Hard Rock. Proponents of Atlantic City and New Jersey and pulling for you.