As any regular gambler can tell you, winnings come and go in cycles and the good days can be really good, and the bad days really bad, and the same can be said for the famous Trump Taj Mahal which seems to be set for another high point next summer as it re-opens under the famous Hard Rock name. Now President Trump made the Taj Mahal a spectacle, well before it ever opened its doors. The casino was reported to have cost more than a billion dollars to build, and financial planners familiar with Atlantic City casinos have stated that at that price tag, the Taj Mahal would have had to earn over a million dollars in profits every day just to break even.
Of course that did not happen and the Taj Mahal quickly became somewhat of a joke among the Atlantic City community as repairs were not made, contractors were not paid and even the local unions were not allowed to operate within the casinos, all with a failed purpose of keeping the overpriced casino profitable, which it never was.
The Taj Mahal originally opened under a slew of controversy and misinformation and in the end, the local zoning regulators prevented a huge section of the casino, including most of its´slot machines, to be closed at the time of its grand opening because of building violations.
The Taj Mahal was sold off multiple times, and each time less attention and effort went into maintaining the wildly themed casino. But that streak seems to have ended.
Hard Rock, which acquired the property for a mere $50M ( compared to the $1B original price tag). Originally Hard Rock stated they were going to completely renovate the casino and hotel to give it a modern appearance including the removal of the entire Taj Mahal theme at an expected cost of $300M. However, recently Hard Rock has increased that estimated cost to $500M, but also has set an expected opening date of Memorial Day 2018. It will be interesting to see how the revival of Atlantic City in recent years will impact the profitability of the old Taj Mahal, which of course was a central figure in more than a couple of the bankruptcies filed by Donald Trump.