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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

Complex Rock International does not like what it sees inside the Trump that is former Taj in Atlantic City, that your company purchased in March for $50 million.

Rough Rock Chairman Jim Allen, a previous trump entertainment resorts employee, is now tasked with renovating his previous boss’s grand vision in Atlantic City.

Billionaire Carl Icahn’s bargain price selloff meant the rough Rock was acquiring a Boardwalk property 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 examination, Hard Rock officials state it’s planning to cost a penny that is pretty refresh the 2,010-room resort and gaming area, 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 discovered across the Trump Taj Mahal.

Hard Rock Ups Ante

Though the company owned by the Seminole Tribe in Florida got a premiere spot on the Atlantic City Boardwalk for a rock-bottom cost, Hard Rock executives say the initial budget of $350 million won’t be nearly enough to trnsform the space into a proper Hard 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 can just take five or 10 % of this company from Resorts or Harrah’s,” Allen stated.

Anyone who traveled to the Taj Mahal before its October closing understands the serious work that lies ahead. a dark gaming flooring and outdated eating areas left the casino feeling musty and unclean.

Atlantic City is along the way of locating a norm that is new 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 an even more time that is prosperous.

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 period that is same year earlier.

State of the Union

Atlantic City officials will welcome the increased gladly investment from Hard Rock, as well as perhaps more to the point, the company’s revelation that it plans to reestablish the house’s relationship with the Local 54 casino workers union.

Previous owner Icahn slashed advantages and flatlined pay after he purchased the Taj Mahal out of bankruptcy in February of 2016. The union sooner or later proceeded a hit, but the billionaire did not fold to their demands. The standoff led to Icahn closing, and subsequently offering, the home once dubbed the ‘eighth wonder associated with the world.’

Allen says he’ll assist regional 54 for a new work contract.

‘There’s going to be no dispute with Local 54,’ he said. ‘we are 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 submit determining where its summer and cold weather games will be contested. That’s since the sporting that is international have left a course of destruction, both in a financial and infrastructural feeling, in recent decades.

It was just nine months ago that Michael Phelps capped off their storied Olympics job inside the Aquatics Center in Rio de Janeiro. Built for the 2016 Summer Games at a cost of $38 million, today it sits vacant deteriorating. (Image: Mario Tama/Getty Images)

Cities are finally wising up that the gamble on hosting the Olympics far outweighs the possible reward. The chances of a country striking it rich from hosting the quadrennial summer or cold weather spectacle are about since likely as a casino gambler hitting that progressive slots jackpot.

Case in point: Rio de Janeiro. Brazil’s 2016 Olympics price tag was over $12 billion, and just what it got in return for its investment that is sizable is cluster of abandoned stadiums and venues that are required to cost the country huge amount of money in maintenance every year.

Two of the stadiums constructed for the 2016 games were earmarked for future usage. One was to be renovated into a college, but remains boarded up today. Another, some other stadium that hosted rugby therefore the modern pentathlon, was scheduled to be transformed right into a park that is public. Additionally continues to be vacant, and from the Olympics is still littered through the entire venue.

Good for Gambling, Bad for City

One area that does benefit from hosting an Olympics may 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 video gaming laws prior to its Olympics hosting, but failed. Legalization talks continue today within an work to locate new forms of tax income. Las Vegas Sands billionaire Sheldon Adelson is when such mogul who is reportedly interested in building in Rio if the market become liberalized.

Japan won’t be making the mistakes that are same Brazil. Its National Diet passed an integral resorts bill to end commercial gambling prohibition in December, and the expected two gambling enterprises 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 weeks in Southern America. Inadequately built venues and athlete housing, sanitary problems, concerns over criminal activity, the Zika virus, and more plagued the games.

The International Olympic Committee can cross South America off its list, leaving Africa as the only inhabitable continent maybe not to host an Olympics. But it will probably stay that way for decades in the future due to your 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.

Bottom Line

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

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

Las Las Vegas can be considered as Sin City, but that doesn’t mean the destination is awash in booze 24/7. Well, actually, maybe its. However when it involves determining the drunkest cities in America, Las vegas, nevada hasn’t got a thing on Midwestern metropolises such as for example Dubuque, Iowa, Lincoln, Nebraska, or Milwaukee, Wisconsin.

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

Research conducted by financial news website 24/7 Wall Street looked to spot the 20 drunkest cities in America based on rates of excessive imbibing rate as well as other factors related to alcohol-fueled ills that are social. Record revealed that while Las Vegas’ reputation as a party city may be well-deserved, it scarcely constitutes a civic health risk.

The study found the biggest drunks weren’t seen stumbling along the Strip or passed out in a casino lobby. Spoiler alert: in ranking the cities that are drunkest the main destination was Green Bay, Wisconsin.

Nevada don’t crack the Top even 20. So just what gives? Scroll through record, and some patterns are noticed by you. Nearly all of the towns during the top are into the Midwest, a whole lot come in college towns, and the majority of were in places being super-cold for longer than half the entire year.

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

Just What Doesn’t Take Place in Vegas …

For one, unlike most towns in the list, Las Vegas isn’t much of a college town, at least maybe not of the sort where tailgating has made morning binge drinking a community affair saturday. The number of big state college cities that made the list can invariably depend on a new crop of young ones moving to town, 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 not similar whenever they could simply blend in with the crowds at casinos and nightclubs within stumbling distance (or maybe just a cheap Uber ride) from home.

Likewise, 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 free alcohol and other comps for folks who aren’t necessarily high rollers.

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

Boozer’s Methodology

The methodology in this study used self-reported information from the departments of health and peoples services in 381 metropolitan areas to ascertain the prevalence of excessive consuming, which correlated with final amount of bars and a share of automobile fatalities where alcohol was involved.

The study that is same compiled an inventory of the ‘driest’ towns and cities in the us. Another spoiler: Provo, Utah, was number one. Despite being a university town, the home of BYU boasts only 10 bars in town and just 8.5 % of the adult population experienced in excessive drinking.

Fortunately, for those charged with advertising Las vegas, nevada since the world’s premiere party destination, vegas was nowhere near to making that list.

Another study that is recent of Cities in America’ by The Daily Beast used somewhat different metrics, but still Las Vegas couldn’t crack the top 20, coming in at number 21.

If anything, the 24/7 study assessed indicators of problem drinking, not simply number of booze consumed. So while many may fondly recall Las vegas, nevada as spot where they drank more than they thought humanly possible, as a city it’s a place that does pretty well holding its liquor.

NBA Finals Odds Prefer 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 any such thing, it’s that the rubber match series is any such thing but a foregone conclusion.

LeBron James’ defending champs will be the 2017 underdogs according towards the NBA Finals odds, but that was also the instance a 12 months ago. (Image: Garrett Ellwood/Getty Pictures)

On Thursday night, the Cavs took care of business by beating the Boston Celtics to end the series in five games. 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 already taking bets. Although the NBA Finals odds prefer Golden State, early action happens to be on the defending champs.

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

However, the chances are tilting in Cleveland’s favor since these people were first posted. The moneyline has shrunk the Cavs’ chances to +200, utilizing the favorite now at -240.

LeBron James, Kyrie Irving, and Kevin Love look to repeat and give Cleveland activities its second major championship in as a long time. That follows a 52-year drought that caused so many Ohioans anguish on the decades.

They face Kevin Durant, who was simply added towards the already all-star-like Warriors roster last offseason, and mainstays Steph Curry, Klay Thompson, and Draymond Green.

It’s the matchup every basketball fan outside of the Bay Area and Ohio wanted to see. That includes oddsmakers, which stay to see heavy betting on the Finals rivalry.

More Than Rings on the line

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

Now, it’s Golden State’s move to get revenge. Last fall, Green said should the 2 teams meet again, ‘ I would like to destroy Cleveland. I wish to annihilate them.’

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

James Praises Warriors

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

James, who’s going to their seventh straight Finals and passed Michael Jordan in the all-time playoff scoring list on Thursday, said, ‘They’ve been the team that is best in our league the past three years. And they’ve added an unbelievable player in Kevin Durant it even more complicated. so it makes’

Ohio Casino Employees Will Soon Manage to Gamble In-State

Ohio casinos are about to gain a huge number of brand new prospective players, thanks to the those who work for them.

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

A bill ready become signed into law in Ohio will rescind a prohibition against casino employees gambling in the Buckeye state, and instead will simply avoid them from playing at the place they work. (Image: Toledo Blade)

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

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It applies to dealers, wait staff, executives, entertainers, valet parkers, maintenance workers, and simply about someone 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 present statute year that is last when he had been a state Senator. Term limitations forced him to go out of the Senate, but upon being elected to carry on serving inside your home, 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 were only forbidden from gambling at their office, or any affiliated properties in-state.

All Work and No Enjoy?

Ohio casinos employ significantly more than 9,000 people. That is a lot of prospective customers who presumably have an interest in gambling forced traveling to Michigan, Indiana, or Pennsylvania for the place that is nearest to play.

Existing law doesn’t influence employees at the state’s seven ‘racinos,’ an inequity the new bill sought to address.

Prohibited casino worker gambling is currently a first-degree misdemeanor punishable by up to 180 days in jail and a $1,000 fine. Repeat offenses can lead to felony eventually charges. But this has not been issue, as so far, zero casino operators or workers have been prosecuted.

‘After five years of regulating and enforcing what the law states 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 controls that are internal to each casino operator, it could be difficult to also attempt.’

In-State’s Rights

Schuler said in a statement that the brand new law will ‘bring Ohio into alignment with neighboring jurisdictions where such an approach has proven fair and still maintains the integrity of casino gaming.’

Pennsylvania had a prohibition similar to Ohio’s in place when they legalized gambling in 2006. They rescinded the limitation on in-state gambling in 2012, using it instead just to one’s place of employment.

In New Jersey, state regulators lifted a ban on workers’ gambling in-state at establishments other than their own host to business in the first 1990s.

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