Spectacle Entertainment could soon begin the construction of the new Hard Rock casino in Gary. The operator has got approval from the state’s gambling regulator to begin construction on the new gambling facility.
The gambling regulator has also authorized the consolidation and relocation of Spectacle’s two Majestic Star casino boats from Lake Michigan. The gambling operator can now have the casino on a site on the Borman Expressway at 29th Avenue and Burr Street.
Hard Rock’s acquisition of a stake in Gary casino had also been green signaled by the gambling regulator. Following the acquisition deal, the Gary casino will be rebranded as Hard Rock Casino.
The company’s vice president John Keeler is also hopeful of closing the deal to get $400 million in financing for the new casino.
The operator has been attempting to close the deal for quite some time. Commenting on why the deal could not be finalized earlier in August, Keeler said that their lenders were naturally skittish and that they just took a little more time to get it all to put together.
“Our hope is still to be open on New Year’s Eve of next year. Realistically, that may be a goal that’s too ambitious,” Keeler said. “A lot of it is going to depend on the weather.”
He also said that the delay in financing could also lead to a delay in the opening of the new casino. The new casino’s opening could be delayed from Dec. 31, 2020, to hopefully the first quarter of 2021.
Talking about the construction, Keeler said that Spectacle could soon break grounds on the 225,000 square foot casino. He said that the new gambling facility would host a Sportsbook, Hard Rock Cafe, 2,000-seat Hard Rock Live performance venue, and multiple wining and dining options.
“We’ve already started moving dirt up there and we’ll be closing on all the real estate that we’ve got under contract,” Keeler said.
“We just want to build the best casino we can, and we think the Hard Rock brand really helps us and helps us compete in the existing competitive situation, and will help us in the event that Chicago gets a casino,” Keeler said.