Hard Rock Folds on North Jersey, Sells Stake in Possible Meadowlands Casino
Posted on: April 17, 2026, 11:26h.
Last updated on: April 17, 2026, 11:28h.
- Hard Rock is no longer interested in a casino in North Jersey
- The company recently sold its stake in a possible casino at the Meadowlands Racetrack
Hard Rock International is no longer interested in developing a casino resort at the Meadowlands Racetrack in North Jersey.
As first reported by the Press of Atlantic City, Hard Rock, which in December won approval with billionaire Steve Cohen to build a multibillion-dollar casino resort in New York City, has severed its ties with Jeff Gural, the operator of the Meadowlands Racetrack, on a possible casino development. Gural’s company has reportedly bought out Hard Rock’s 50% interest in the casino matter.
Discussions continue in Trenton about possibly asking voters through a statewide ballot referendum to amend the New Jersey Constitution to permit casino gambling outside of Atlantic City. With three casinos expected to open around 2030 in downstate New York, with two in Queens and one in the Bronx, Atlantic City’s in-person casino business, and the state’s financial tax benefit, are forecasted to shrink.
NYC Casino Impact on AC
How much Bally’s Bronx, Hard Rock Metropolitan Park, and Resorts World New York City will impact Atlantic City remains debatable.
Since the full-scale casinos will be located in areas not exactly easily accessible from North Jersey, Atlantic City might be able to retain much of its in-state business. But traffic from the five boroughs is likely to slow after slots, live dealer table games, and sportsbooks open in New York City.
Hard Rock International Chairman Jim Allen said during the East Coast Gaming Congress this week in Atlantic City that he thinks Atlantic City could lose 20-30% of its retail annual gross gaming revenue (GGR).
Hard Rock isn’t the only Atlantic City casino operator betting on New York. Bally’s Corporation secured the right to open a multibillion-dollar casino in the Bronx at Ferry Point.
The future of Bally’s Atlantic City is certainly in question, as the property reported an operating loss of $2.8 million in 2025. The Boardwalk casino saw net revenue decline 8.2% to $183.2 million, the least among the nine casinos in Atlantic City.
Bally’s reported a hotel occupancy rate of just 57.3% in 2025, with its 1,121 guestrooms going for an average nightly rate of $143.84, the second-cheapest casino behind only Harrah’s at $142.65. Ocean Casino demanded the costliest fare at $275.87 on average occupancy of 81.5%. Citywide, Atlantic City casinos experienced a 71.2% occupancy rate last year.
Hard Rock Atlantic City
Hard Rock’s casino in Atlantic City is among the most profitable in town. In 2025, the resort reported a gross operating profit of $123.8 million, second behind Borgata at $237.4 million.
Gross operating profits reflect earnings before interest, taxes, depreciation, amortization, charges from affiliates, and other miscellaneous items.
Hard Rock and Cohen are prepping an $8 billion investment adjacent to Citi Field, home of Cohen’s New York Mets.
Last Comment ( 1 )
Good luck getting any of the major players to develop an integrated resort there. Its a lost cause. So is AC.