Regardless of what happens to the city, Hard Rock “will be okay, because frankly there is no debt on the property,” Allen explained. At that time, Atlantic City’s bond rating was slashed to junk, and it nearly defaulted on its debt. In recent years, the gambling-reliant economy has seen a resurgence since the dark days following the Great Recession. If that continues,“Atlantic City’s days are good,” Allen added.
“But clearly the town needs to focus on infrastructure and continuing to upgrade the image of Atlantic City.” “We’re very happy with the market-it’s growing,” Allen told Yahoo Finance. It was only a year ago that the chain debuted in Atlantic City, taking part in a boom that’s seen the city’s casino revenue by double digits every month since its opening. The Florida expansion also converges with Hard Rock’s push to rapidly expand its hotel division. New guitar-shaped Hard Rock Casino Resort (Courtesy: Seminole Hard Rock Hotel & Casino Hollywood) Buoyed by Atlantic City’s boom
