EAST RUTHERFORD, NJ — A proposed Hard Rock casino in the New Jersey Meadowlands just outside of New York City could open within a year and shake up the already fast-changing gaming market in the northeastern United States.
Hard Rock International and Meadowlands Racetrack unveiled plans Wednesday for a $1 billion casino at the East Rutherford sports complex, next to the stadium where the NFL's New York Jets and Giants play. Hard Rock CEO Jim Allen, whose company owns 16.8 percent of the project, said it could be open by summer or early fall 2016, provided a voter referendum is approved this year. fall to amend the state constitution to allow gambling to expand beyond Atlantic City.
With Newark Liberty International Airport just 12 miles away, the casino will immediately become an international destination, he said.
“The new casino will be designed to attract visitors not only from the 14 million adults in northern New Jersey and New York City, but also from international travelers, making it a premier entertainment destination,” Allen said.
The casino would be called Hard Rock Casino Meadowlands. It won't include a hotel, but Allen noted there are nearly 10,000 hotel rooms in the Meadowlands area.
New Jersey lawmakers are trying to put a referendum before voters this November approving up to three casinos in the northeast corner of the state. Jeff Gural, president of New Meadowlands Racetrack LLC, said this year is the project's best chance.
“If we have to go to 2016, with a presidential election, our message gets lost among everything else,” Gural said. “A commercial in 2016 will cost three times what it costs this year. Honestly, I'd rather wait until 2017.”
The casino would draw heavily from out-of-state markets that currently win Atlantic City.
“We want to bring people back to Bethlehem, bringing people back to northern New Jersey who now go to Aqueduct or Yonkers,” Gural said, referring to the Sands Casino in Bethlehem, Pa., and casinos in Queens and Yonkers, N.Y.
The casino would have 200 table games and 5,000 slot machines. A giant guitar would dominate its entrance, so brightly lit it would be “a beacon at night,” Allen said.
It would include a 2,000-seat concert venue, but Allen also said he and Gural want to discuss the possibility of using the indoor, state-owned Izod Center arena on the sports complex's grounds to hold larger concerts.
Atlantic City leaders have resisted any attempts by lawmakers to even consider legislation expanding casino gambling beyond its borders. Last year, four of the city's 12 casinos closed, and gambling revenue has been steadily declining for eight years, even without in-state competition.
The casino would pay a 55 percent tax rate on its slot winnings, compared to the 8 percent Atlantic City casinos pay. Table game taxes have yet to be determined.