The Florida-based company said Tuesday it would partner with Och-Ziff Real Estate at the southern end of the city.
Hard Rock, which operates 13 casinos around the world, says it is intrigued by a bill introduced Monday in the New Jersey Legislature that would permit casinos to open with as few as 200 rooms, down from the current 500-room minimum.
Atlantic City's newest, most successful casinos have about 2,000 hotel rooms apiece and are intended to dominate the market. But they cost well over $1 billion each.