Search
Close this search box.
Search
Close this search box.

What happened to Trump Taj Mahal in Atlantic City?

What happened to Trump Taj Mahal in Atlantic City?

Society

The Trump Taj Mahal was a hotel and casino located on the famous Atlantic City Boardwalk in New Jersey, USA. Originally owned by Resorts International. And opened its doors in 1990 with a price tag of $1.2 billion, making it the largest casino in the world at the time.

Designed to be a luxurious destination for gamblers and tourists alike. The exterior of the building became modeled after the iconic Taj Mahal in India, with its white marble and ornate architecture. Inside, the casino featured over 2,000 slot machines and more than 130 table games, including blackjack, roulette, and craps.

In 1988, Donald Trump purchased the property from Resorts International for $250 million!

Furthermore, he immediately set to work making changes. He added his own personal touches to the property, including a massive crystal chandelier in the lobby and gold-plated bathroom fixtures in the high-roller suites.

Under Trump’s ownership, the Taj Mahal struggled financially. Despite its grandeur and extravagance, the casino became plagued by debt and a downturn in the Atlantic City market. In 1991, just one year after it opened, the property filed for bankruptcy. It would go on to file for bankruptcy two more times, in 2004 and 2009.

During these difficult financial times, the casino struggled to pay its bills and to keep its employees. In 2014, the property became sold to billionaire Carl Icahn, who took control of the Taj Mahal’s finances and attempted to turn it around. However, even with Icahn’s backing, the casino continued to struggle, and in 2016, it became forced to close its doors. Icahn’s property analysis had previously assumed there would be a buyer for the property, and after a short sale process there was one buyer whose international pockets were far deeper than the local bids.

In 2017 Hard Rock purchased the property.

An experienced company known for its successful hotel and casino properties around the world. Hard Rock immediately set to work renovating and rebranding the property, transforming it into the Hard Rock Hotel & Casino Atlantic City.

The renovation included updates to the hotel rooms, restaurants, and casino floor, as well as the addition of several new amenities, such as a large concert venue and a rooftop pool. Hard Rock also removed many of the Trump-themed decorations and fixtures. Replacing them with a more modern and rock-and-roll-inspired decor.

Today, the Hard Rock Hotel & Casino Atlantic City is a thriving destination for tourists and locals alike. It offers a range of entertainment options, including live music, top-rated restaurants, and a world-class casino floor. The property has breathed new life into the Atlantic City market, and it is a shining example of successful casino revitalization.

What is the history of gambling in the city?

The history of gambling in Atlantic City dates back to the 19th century, when the city was a popular seaside resort destination for the wealthy. As visitors flocked to the city for its sandy beaches and cool ocean breezes, they also indulged in various forms of entertainment, including gambling.

In 1853, the first legalized casino-style gambling took place in Atlantic City, when the city’s mayor, Jonathan Pitney, convinced the state legislature to allow gambling in an effort to revitalize the struggling resort town. The first casino, called the “Resort,” opened its doors in 1870, and was followed by several others in the years to come.

However, the early casinos in Atlantic City were small-scale affairs, offering only basic gambling games such as blackjack and roulette. It wasn’t until the 1970s that Atlantic City truly became a gambling destination, with the legalization of casino gambling in the state of New Jersey.

In 1976, New Jersey voters approved a referendum that allowed casino gambling in Atlantic City, and the first casino, Resorts Casino Hotel, opened its doors in 1978. The legalization of casino gambling brought new life to the struggling city, creating thousands of jobs and generating millions of dollars in tax revenue.

Over the years, more casinos were added to the Atlantic City landscape, including the Trump Taj Mahal, which opened in 1990 and was later rebranded as the Hard Rock Hotel & Casino Atlantic City. However, the market has faced its share of challenges, including increased competition from neighboring states and a decline in tourism due to economic downturns.

Despite these challenges, gambling remains a major part of the Atlantic City experience. The city is home to several world-class casinos, including the Borgata Hotel Casino & Spa, Caesars Atlantic City, and the Tropicana Atlantic City, which offer a range of entertainment options for visitors, from slot machines and table games to concerts and top-rated restaurants. Today, gambling is a key part of the Atlantic City economy, supporting thousands of jobs and generating millions of dollars in revenue each year.

What happened to Trump Taj Mahal in Atlantic City?