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Hard Rock to Roll Dice on Trump Taj Mahal, Upping Renovation Budget to $500 Million

Hard Rock to Roll Dice on Trump Taj Mahal, Upping Renovation Budget to $500 Million

Rough Rock International doesn’t like what it sees inside the Trump that is former Taj in Atlantic City, that your company purchased in March for $50 million.

Tough Rock Chairman Jim Allen, A trump that is former entertainment employee, is now tasked with renovating his previous boss’s grand vision in Atlantic City.

Billionaire Carl Icahn’s bargain cost selloff designed the rough Rock was acquiring a Boardwalk home for cents on the buck, 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 likely to price a penny that is pretty refresh the 2,010-room hotel and video gaming room, and rid it of an India-themed décor.

‘The sum of money we’re going to have to invest to eliminate all those minarets and all that purple, Jesus! What were we thinking?’ Hard Rock Chairman Jim Allen told the Associated Press this week.

The minarets Allen relates to are the spire and crowns that are onion-shaped ornaments found across the Trump Taj Mahal.

Hard Rock Ups Ante

Although the company owned by the Seminole Tribe in Florida got a premiere spot on the Atlantic City Boardwalk for a rock-bottom price, Hard Rock professionals say the initial budget of $350 million defintely won’t be nearly enough to trnsform the space into a proper Hard Rock Hotel & Casino. Allen estimated that the project’s cost shall increase to at least $500 million.

‘It does us no good to place some guitars on the wall and brand new carpets, and state, ‘I can simply take five or 10 % associated with business from Resorts or Harrah’s,” Allen said.

Whoever traveled to the Taj Mahal before its October closing understands the work that is serious lies ahead. a dark gaming flooring and outdated consuming spaces left the casino feeling musty and unclean.

Atlantic City is in the act of finding a new norm in terms of gaming and hospitality income. Five gambling enterprises closed since 2014, however the economy is showing signs of recovery and turning the part to a far more successful time.

For the first quarter of 2017, the casino that is remaining generated $816.7 million in revenue from their casinos, resort rooms, food and beverage services, and entertainment. That represents an 8.6 per cent gain regarding the same duration a year earlier.

State of the Union

Atlantic City officials will gladly welcome the increased investment from Hard Rock, and maybe more to the point, the business’s revelation that it plans to reestablish the home’s relationship using 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 fundamentally proceeded an attack, but the billionaire didn’t fold to their demands. The standoff led to Icahn closing, and afterwards offering, the home once dubbed the ‘eighth wonder of this world.’

Allen states he’ll utilize neighborhood 54 for a brand new work agreement.

‘There’s going to be no dispute with Local 54,’ he said. ‘We’re going to place individuals back to work.’

Rio Olympic Infrastructure Left in Economic Chaos, Was It Worth the Gamble?

The Olympics no longer have the hand that is upper determining where its summer and winter games will be contested. That’s because the international sporting tournaments have left a course of destruction, both in a financial and infrastructural feeling, in recent decades.

It had been just nine months ago that Michael Phelps capped down their storied Olympics job inside the Aquatics Center in Rio de Janeiro. Built for the 2016 Summer Games at a price of $38 million, today 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 prospective reward. The chances of a nation striking it rich from hosting the quadrennial summer or wintertime spectacle are about since likely as a casino gambler hitting that progressive slots jackpot.

Here’s an example: Rio de Janeiro. Brazil’s 2016 Olympics cost tag was over $12 billion, and exactly what it got in substitution for its sizable investment is a cluster of abandoned stadiums and venues that are expected to cost the country vast amounts in maintenance each year.

Two associated with the stadiums constructed for the 2016 games were earmarked for future use. One was to be renovated into a school, but remains boarded up today. Another, an outside stadium that hosted rugby plus the modern pentathlon, was scheduled to be changed in to a public park. In addition continues to be vacant, and from the Olympics is still littered through the venue.

Good for Gambling, Detrimental To City

One area that does benefit from hosting an Olympics is the gambling industry. When London welcomed the 2012 Summer Games, UK sportsbooks took in over $100 million in bets. Four years earlier in Beijing, the same oddsmakers generated a handle that barely eclipsed $5 million.

Brazil attempted to pass video gaming laws prior to its Olympics hosting, but failed. Legalization talks continue in an effort to find new forms of tax revenue today. 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 Southern America. Inadequately built venues and housing that is athlete sanitary dilemmas, concerns over criminal activity, the Zika virus, and more plagued the games.

The International Olympic Committee can cross Southern America off its list, leaving Africa as the only continent that is inhabitable to host an Olympics. But it will likely stay that means for decades in the future due towards the ever-growing price 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.

Bottom Line

Oxford University recently compiled data on what it takes to host the Olympics. With costs adjusted for inflation, from 1960 through Sochi in 2014, the normal cost was $5.2 billion for the Summer Games, and $2 billion for the Winter Games.

Las Vegas perhaps not Drunk Enough to Make List of Top 20 Booziest Cities

Las Las Vegas may be thought of as Sin City, but that doesn’t mean the destination is awash in booze 24/7. Well, actually, maybe it really is. But when it comes to determining the drunkest cities in America, Las vegas, nevada hasn’t got a thing on Midwestern metropolises such as for instance Dubuque, Iowa, Lincoln, Nebraska, or Milwaukee, Wisconsin.

Regardless of how much this guy can throw back in a night, it will not be enough to declare the whole city of Las Las Vegas one of many drunkest places on the map. (Image: o2ip.com)

Research carried out by financial news web site 24/7 Wall Street looked to recognize the 20 drunkest cities in America based on rates of excessive imbibing rate along with 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 risk.

The study found the greatest drunks weren’t seen stumbling along the Strip or passed away in a casino lobby. Spoiler alert: in ranking the drunkest cities, the number one destination was Green Bay, Wisconsin.

Vegas did not crack the Top even 20. So just what gives? Scroll through the list, and you notice some patterns. Most of the towns during the top are in the Midwest, a great deal come in college towns, and the majority of were in places being super-cold for more than half the season.

The state of Wisconsin had nine urban centers on record. Three places in Iowa made the top 20. Minnesota and North Dakota additionally made showings that are respectable. And even Fairbanks, Alaska, allow it to be known they will have something to offer that Las Vegas does not.

Just What Doesn’t Happen in Vegas …

For one, unlike many towns on the list, Las Vegas isn’t much of a college town, at the very least maybe not of this sort where tailgating has made Saturday morning binge drinking a residential area affair. The number of large state school cities that made the list can invariably rely for a crop that is new of moving to town, ready in the future of age not too far from campus.

There’s UNLV, with 28,000 pupils, but most of them are commuters. And even for those who do like to party, it’s different whenever they can simply blend in with the crowds at casinos and nightclubs within stumbling distance (or maybe only a cheap ride that is uber at home.

Similarly, casinos 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 those who aren’t necessarily high rollers.

And while tourists arrive at town to party hard, the Las Vegas metro area hosts nearly 2 million residents, most of whom are perhaps not partying 24/7. For every drunken bachelor party on the Strip, there’s a household in the surrounding areas not rocking out, but rather at home getting ready for school the next time.

Boozer’s Methodology

The methodology in this study used self-reported information from the departments of health and individual services in 381 metropolitan areas to determine the prevalence of excessive consuming, which correlated with final number of bars and a percentage of auto fatalities where alcohol was involved.

The exact same study additionally compiled a list of the ‘driest’ towns and cities in America. Another spoiler: Provo, Utah, had been quantity one. Despite being a college city, the home of BYU boasts only 10 bars in town and just 8.5 percent associated with the adult population experienced in exorbitant drinking.

Fortunately, for those charged with promoting nevada as the planet’s premiere party destination, Las Vegas was nowhere near to making that list.

Another study that is recent of Cities in America’ by The Daily Beast used slightly different metrics, whilst still being nevada couldn’t crack the top 20, coming in at number 21.

If anything, the 24/7 study assessed indicators of problem drinking, not simply volume of booze consumed. So even though many may fondly recall vegas as an accepted destination where they drank more than they thought humanly possible, as being a city it’s a place that does pretty much holding its liquor.

NBA Finals Odds Prefer Golden State Over Cleveland in Rubber Match Series

For the 3rd straight year, the NBA Finals odds in Las Vegas favor the Golden State Warriors to win the Larry O’Brien Trophy within the Cleveland Cavaliers. But if history informs us such a thing, it’s that the plastic match series is anything but a conclusion that is foregone.

LeBron James’ defending champs would be the 2017 underdogs according to the NBA Finals odds, but that was also the instance a year ago. (Image: Garrett Ellwood/Getty Images)

On Thursday night, the Cavs took care of company by beating the Boston Celtics to end the series in five games. They now have a week to get ready for the warriors, a team that is a perfect 12-0 in this 12 months’s playoffs.

The best-of-seven showdown doesn’t begin until next Thursday, June 1, but Las Vegas sportsbooks are needless to say already taking bets. The early action has been on the defending champs while the NBA Finals odds favor Golden State.

The Westgate SuperBook exposed the series prices at Cleveland +220, and Golden State -260. That means a winning $100 bet on the Cavs returns $220, while the bet that is same the Warriors returns just $38.46.

Nonetheless, chances are tilting in Cleveland’s benefit since these people were first posted. The moneyline has shrunk the Cavs’ chances to +200, because of 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 years. That follows a 52-year drought that caused so many Ohioans anguish on the years.

They face Kevin Durant, who was 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 outside the Bay Area and Ohio wanted to see. That includes oddsmakers, which stand to see heavy betting on the Finals rivalry.

More Than Rings at risk

The Warriors took the 2015 title, defeating LeBron in his first year after going back home from his four-year stint in Miami where he won their first couple of titles. They matched again last June, and after a record-setting season that is regular the team out west, and down 3-1 in the series, the Cavs pulled down the unthinkable in coming back and upsetting the champs.

Now, it’s Golden State’s turn to get revenge. Final autumn, Green said should the 2 teams meet again, ‘ I would like to destroy Cleveland. I desire to annihilate them.’

Along with determining which team takes the lead within the three-game NBA Finals showdown, analysts believe the identity associated with the league is also at risk. Will it remain LeBron’s, or perhaps is it time to hand over the reins to Curry and Durant?

James Praises Warriors

Following his Eastern Conference Finals win, LeBron dished down plenty of respect for the ‘juggernaut,’ that he faces next as he called them.

James, that is going to their seventh straight Finals and passed jordan regarding the all-time playoff scoring list on Thursday, said, ‘They’ve been the most readily useful team in our league for the past three years. Plus they’ve added an unbelievable player in Kevin Durant it even more difficult. so it makes’

Ohio Casino Employees Will Soon Manage to Gamble In-State

Ohio casinos are about to gain a large number of brand new potential players, thanks to the individuals who work for them.

The Ohio Senate voted on Wednesday 32-0 to remove a prohibition on casino employees gambling in some of hawaii’s four casino gaming resorts.

A bill ready to be finalized into legislation in Ohio will rescind a prohibition against casino employees gambling in the Buckeye state, and instead will only prevent them from playing during the accepted spot they work. (Image: Toledo Blade)

The law that is current which went into effect shortly after Ohio voted to legalize casinos on 2010, makes it a first-degree misdemeanor for employees to gamble at any casino in the Buckeye State.

It applies to dealers, wait staff, executives, entertainers, valet parkers, maintenance workers, and simply about anyone else who works in or even for the casino.

The stated purpose was to prevent corruption and collusion, while assuring the public that Ohio casinos would never cheat them at the time.

Rep. Bill Seitz (R-Cincinnati) introduced a bill to deal with the irrelevance of current statute last 12 months, whenever he was a state Senator. Term restrictions forced him to go out of the Senate, but upon being elected to carry on serving in the House, he brought the bill it won approval from the House on a 94-3 vote with him, and by February.

His bill revised language of that law to say casino workers had been only forbidden from gambling at their office, or any affiliated properties in-state.

All Work and No Play?

Ohio casinos employ more than 9,000 people. That’s a great deal of potential prospects who presumably don’t mind spending time 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.

Illegal casino worker gambling is currently a misdemeanor that is first-degree by as much as 180 times in jail and a $1,000 fine. Repeat offenses can lead to felony eventually charges. But this has not been a presssing problem, as so far, zero casino operators or employees have been prosecuted.

‘After five years of regulating and enforcing what the law states at Ohio’s casinos, we never have had a instance 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 might be difficult to even attempt.’

In-State’s Rights

Schuler said in a statement that the law that is new ‘bring Ohio into positioning 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 a person’s job.

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.



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