Hard Rock Casino Report Denied
3 Apr 2006
NEW JERSEY – As reported by the New Jersey Courier Post: "Investment banking giant Morgan Stanley has reached a tentative agreement to buy 20 acres fronting the boardwalk in the South Inlet from developer Tom Scannapieco of New Hope, Pa.
"The site is adjacent to Showboat. The deal could result in construction of a $1 billion casino resort to rival The Borgata.
"Morgan Stanley denied published reports that Hard Rock Hotel & Casino would be the developer.
"…Reports that Hard Rock Hotel & Casino would be the gaming entity chosen by Morgan Stanley also were called premature by several other sources…"