A nearly decade-long collaboration quietly came to an end two weeks ago. Hard Rock International sold its 50% stake in the Meadowlands Casino project to its partner—Jeff Gural's New Meadowlands Racetrack LLC, officially exiting the long-stalled North New Jersey casino proposal. The two parties had first joined forces in 2015 to sketch out a blueprint for a casino at the East Rutherford Meadowlands Racetrack, but a year later, New Jersey voters overwhelmingly rejected a referendum allowing casinos beyond Atlantic City with an 80% to 20% vote. Now, with New York State swiftly approving multiple casino licenses in Queens, Bronx, and other areas, the regional competitive landscape has drastically changed. Legislators from Bergen and Monmouth counties are pushing for a new constitutional amendment referendum, attempting to regain casino access for both the Meadowlands and Monmouth Park racetracks. Hard Rock chose this moment to exit, while Gural took up the lobbying mantle alone. As Hard Rock Chairman Jim Allen put it, too many partners make the ship hard to steer.
New York License in Hand, Hard Rock Shifts Strategic Focus Northward
The backdrop to Hard Rock's exit is the smooth progress of its Queens, New York project. In partnership with Steve Cohen, owner of the New York Mets, Hard Rock plans to build an $8 billion casino resort next to Citi Field. Meanwhile, since taking over the Trump Taj Mahal in Atlantic City in 2018 and transforming it, Hard Rock's casino hotel there has reached a gross operating profit of $123.8 million in 2025, second only to Borgata in the city. With significant investments in New York and existing assets in Atlantic City pulling in both directions, continuing to bet on an uncertain North Jersey piece has become strategically unnecessary for Hard Rock. When asked about the possibility of leaving Atlantic City, Allen gave a non-committal answer: the current commitment is to stay, but there are many conditions.
Gural's Solo Political Calculations
The new owner, Gural, has a very pragmatic approach. He admits that the key to passing the referendum allowing casinos beyond Atlantic City lies in proving that North Jersey casinos will not drain the southern shore's gambling city but will instead provide it with much-needed funds. Gural is brewing a plan to direct some of Meadowlands Casino's revenues to support Atlantic City or its gambling industry. In Gural's narrative, Meadowlands Casino, primarily aimed at destination resorts, might not even build a hotel, resembling more a flood barrier against the siphoning effect of New York casinos.
This defensive counter-attack logic directly addresses the regional changes after the approval of three new licenses in New York. Gural openly states that Meadowlands Casino could keep North Jersey's gambling money in North Jersey and attract customers from Manhattan and Chinatown, rather than watching them flow to Queens or Bronx.
Atlantic City's Earthquake and Tsunami
Concerns about being caught between the north and south have long been expressed in Atlantic City. At a recent East Coast Gambling Conference, Allen estimated that once the New York casinos open, Atlantic City could lose 25% to 30% of its gambling revenue. George Goldhoff, president of Hard Rock Atlantic City and chairman of the New Jersey Casino Association, warned that if the two North Jersey casino licenses are added to New York's three new ones, up to six of Atlantic City's nine casinos might be forced to close, with market revenues evaporating by $600 million to $700 million, akin to a tsunami following an earthquake. Atlantic City Mayor Marty Small has stated he will actively respond while firmly opposing any attempts to divert casinos within the state.
PASA Official Website continues to track the evolution of the North American gambling competition landscape, noting that New Jersey's tug-of-war over "whether casinos can move beyond Atlantic City" has entered its third legislative cycle. From the crushing defeat of the 2016 referendum to the current situation with New York at the gates, whether the political scales have tipped enough to amend the state constitution depends on whether Gural and others can present a benefit distribution plan that truly convinces the southern shore casinos.
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