Hard Rock Nixes Meadowlands Casino Plan In New Jersey; Sells Stake To Track Owner Gural
Hard Rock International has ended its Meadowlands casino project in New Jersey, selling its stake to Jeff Gural amid renewed casino expansion discussions.Summary
Hard Rock International has sold its 50% interest in the proposed Meadowlands casino in New Jersey to Jeff Gural, owner of New Meadowlands Racing, effectively ending a nearly decade-long partnership. This decision comes as New Jersey lawmakers reconsider allowing casinos outside of Atlantic City. Hard Rock’s withdrawal follows its recent success securing a casino development in New York, a project estimated at $8 billion. Industry observers noted the challenges of Hard Rock pursuing multiple casino projects simultaneously. Gural intends to propose directing revenue from a potential Meadowlands casino towards Atlantic City to gain support for the referendum, arguing it would serve a different market than Atlantic City and help retain gamblers within New Jersey, countering the competition from new casinos in New York. Atlantic City casino executives have warned that New York casinos could significantly reduce their revenue, and the addition of North Jersey casinos could lead to closures.
(Source：Plato Data Intelligence)