ATLANTIC CITY, N.J. (WPVI) --Changes are coming to Atlantic City.
The former Trump Taj Mahal casino, which opened back in the 90s, now belongs to Hard Rock International.
Wednesday morning, the company announced how it plans to revive the property as a hotel and casino.
"It shows that Atlantic City is moving forward," said Atlantic City Mayor Don Guardian. "We are not giving up on casinos. And when you hear what Hard Rock has to offer, it is going to be a lot more than a casino."
"We have confidence Hard Rock will do this in the right way," said New Jersey Gov. Chris Christie at Wednesday's announcement, "and to take a property that has a great tradition in this city and create an absolutely new tradition for the people of Atlantic City and the people who come here."
Florida-based Hard Rock purchased the Taj Mahal in March from billionaire investor Carl Icahn.
Icahn, a close friend and adviser to President Trump acquired the casino last year from bankruptcy court, after Trump was no longer involved with it.
Icahn closed the facility in October after a devastating strike by union workers seeking the restoration of health insurance and pension benefits.
The new owners are looking toward the future.
A final price tag has not been revealed, but initial estimates put the renovation and purchase at about $300 million.
It's an investment that Hard Rock is hoping will attract crowds and also provide a much-needed economic boost for Atlantic City.
"It is wonderful to have them here," said N.J. Assemblyman Chris Brown. "Three thousand local jobs, $350 million dollars for our investment trade.... Today is just a wonderful day for everybody."
Action News is told hiring for the new facility has already begun.
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