Hard Rock is considering two New York-area casinos | national


ATLANTIC CITY, NJ (AP) – Hard Rock wants to build a casino in or near New York City, although it plans to build another in northern New Jersey, about eight miles away. Jim Allen, president of the global gambling, entertainment and hospitality company owned by the Seminole Indian tribe of Florida, said on Tuesday that Hard Rock would submit an expression of interest to New York officials before the deadline December 10. New York has three remaining casino licenses to be awarded in the lower state area which includes New York City, which has long been the holy grail of the casino industry, considering population and wealth. of the region. Speaking at the East Coast Gaming Congress in Atlantic City, Allen said Hard Rock had stocks on Wall Street teetering after record highs Wall Street on Wednesday, a day after the S&P 500 and the Dow Jones Industrial Average set their latest records. The S&P 500 was up 0.1% as of 1:30 p.m. EST. The Dow Jones Industrial Average lost 80 points, or 0.2%, to 35,678 and the Nasdaq was up 0.8%. The S&P 500 had more losers than winners, but several large tech and communications companies gained ground and helped offset losses elsewhere. Microsoft rose 4.7% after reporting a 24% increase in profits in the last quarter as its cloud computing business grew. Chipmaker Advanced Micro Devices rose 1% after reporting encouraging earnings. Google’s parent company Alphabet was up 6.4% as the continued rebound in digital ad spending supported surprisingly good financial results. A mix of businesses that rely on direct consumer spending has also gained ground. Domino’s Pizza increased 2.6%. Bond yields have fallen significantly and weighed on banks, which rely on higher yields to charge more lucrative interest on loans. The 10-year Treasury yield fell to 1.53% from 1.61% on Tuesday night. JPMorgan Chase fell 2.1%, US crude oil prices fell 2.5% and pushed energy stocks lower. Exxon Mobil fell 2.3%. Investors are busy examining the latest round of earnings from a variety of well-known companies. McDonalds rose 2.8% after posting strong financial results as an easing of trade restrictions helped sales growth. Coca-Cola grew 2% thanks to sales growth and the reopening of many locations and businesses over the summer. General Motors fell 4.5% after posting mixed financial results as the auto industry as a whole continues to face production problems due to a shortage of chips. Rival Ford will release its results later Wednesday. had been planning a project in New York since the possibility was announced seven years ago. Afterward, Allen said in an interview that the company is not abandoning a plan it unveiled in 2015 to build a casino on the Meadowlands Racetrack just outside New York City. “We are interested in both markets, and if God is good enough to allow us to operate in both, we would be happy to do so,” he said. Hard Rock would need permission from New Jersey voters to build in the Meadowlands. They flatly rejected a plan in 2016 that would have allowed casinos outside of Atlantic City, the only place in New Jersey where they are allowed.

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