Building upon success is challenging, especially in a competitive business environment such as the one found among Atlantic City casinos. Some people see opportunity and embrace the pressure, while others shy away from the spotlight.
By all accounts, George Goldhoff is firmly part of that first group. The new president of Hard Rock Hotel & Casino Atlantic City is fully aware of the expectations that come with leading the second-highest-grossing Ocean City casino.
Goldhoff is indirectly replacing Joe Lupo, the casino’s former president. Lupo left AC to run The Mirage in Las Vegas, which Hard Rock recently acquired. Fortunately, the seasoned gaming executive is no stranger to high-stakes and seems eager to take on Atlantic City.
“The challenge is not unique, but the scale of the challenge is unique,” Goldhoff told PlayNJ in a recent interview since being named top executive in late January.
“The competition is fierce, and there are some exceptional operators… (but) I’ve always been drawn to thorny, broken, dynamic, challenging roles, and I knew how complex Atlantic City was.”
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Recently, Goldhoff was managing Hard Rock’s casino in Cincinnati. When Jim Allen told him he was going to Atlantic City, Goldhoff said he was ready.
“I knew I would thrive in this environment, and I’m truly grateful and humbled that I was considered,” he said.
In the press release announcing Goldhoff’s appointment, Allen, Hard Rock International chairman and Seminole Gaming CEO, stated:
“I’m confident George will continue to build upon the outstanding success we have achieved at Hard Rock Hotel & Casino Atlantic City. Within three years of rebranding the property in Cincinnati, he was able to make that casino the leader in the market, and I have every reason to believe he will lead the Atlantic City team to even greater success.”
Summer inside Atlantic Metropolis a whole unique animal
Undoubtedly, Goldhoff’s career arc is lacking firsthand experience in any Atlantic City casinos. However, that does not mean it lacks variety or determination, both valuable qualities in the highly competitive AC market.
Goldhoff remains confident that his previous roles in Las Vegas (where he opened the Bellagio as Director of Food and Beverage), Mississippi (pre- and post-Hurricane Katrina), Europe, and Ohio have prepared him for the Jersey Shore summer.
“I’ve heard it’s absolutely crazy,” he said with a hearty laugh. Goldhoff credited the property’s nearly 3,500 employees for setting the stage for the busier period between Memorial Day and Labor Day.
“It will be truly exciting to be operating the property during a busy summer,” Goldhoff said.
“It will test us as managers and challenge our ability to handle increased volume while maintaining that high level of quality. And that’s always a great experience and a good challenge.”
In Ocean City gambling house game, if perhaps you’ll so are not expanding, you’ll so are dying
However, beyond maintaining Hard Rock’s market position or navigating a busy summer season, Goldhoff is aware of other challenges. For starters, Atlantic City has not fully rebounded from the pandemic like other tourist destinations (such as Las Vegas or South Florida).
“Gaming revenue in the Atlantic City market is stagnant. If the market isn’t growing, in order to grow, you have to compete against others, to take your share of the competitive landscape,” Goldhoff said.
Hard Rock (along with Ocean Casino Resort) will be celebrating its sixth anniversary this summer. Since its debut in June 2018, Hard Rock and Ocean trail only Borgata Hotel Casino & Spa in terms of land-based gambling revenue. As previously reported by PlayNJ, Hard Rock and Ocean have been taking business from existing AC casinos while the industry as a whole has struggled to expand.
The launch of the Hard Rock online casino didn’t have the same fanfare and spectacle as the land-based casino, but it has been competitive in the market.
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Goldhoff, like other Atlantic City casino executives, is also looking ahead. Besides larger economic factors like inflation and increased costs, AC awaits its biggest challenge to date: New York casinos.
In the coming year, the Empire State will issue three downstate casino licenses. Two of the licenses are expected to go to existing gambling establishments in Yonkers and Queens. The other license will be a bidding war. Hard Rock, Caesars Entertainment, and Bally’s Corporation (all AC casino operators) each expect to compete for a multi-billion-dollar prize.
Unlike others who insist AC can weather the storm, Goldhoff is more realistic.
“I believe that Atlantic City can adapt, but it’s possible that there will be a few less casinos in Atlantic City when New York opens up,” he pointedly said. “The Atlantic City market is likely to shrink a bit, which means it’s a survival of the fittest.”
That annoying smoking concern just won’ t go on holiday
The other headwind looming over AC is a potential smoking ban. The New Jersey Legislature is considering legislation to eliminate the casino loophole that allows indoor smoking. Currently, the state permits smoking in up to 25% of the casino floors in Atlantic City.
Goldhoff acknowledged that he has worked in both smoking and nonsmoking casinos. He emphasized that, beyond anecdotal experiences, the evidence is clear on how a smoking ban could impact casinos.
“The research is pretty well understood that it will have a negative effect. People will make fewer trips to Atlantic City,” he said. “It will shrink the market. To what extent? I think people have different opinions on that, but it will shrink the market.”
Regardless of what the future holds for Atlantic City, Goldhoff remains thrilled to be part of its present.
“This is also one of (Hard Rock’s) most important jurisdictions. And to have Jim Allen provide me with this opportunity and the confidence to take on the leadership role here is really extraordinary and exciting.”
David Danzis is the lead writer for PlayNJ. He is a New Jersey native and an honors graduate of Rutgers University. As a newspaper reporter for the New Jersey Herald and Press of Atlantic City, David received statewide recognition for his coverage of politics, government, education, sports, and business. Today, he is PlayNJ’s Atlantic City “insider” and a gaming industry expert on casinos, sports betting, and online gambling. David resides in Mays Landing with his wife and two children. When he’s not working, you can find him on the shore, playing golf, or skiing. David also enjoys cheering for his beloved New York sports teams – the Yankees, Jets, Rangers, and Knicks.
