The former Taj Mahal building in Atlantic City, New Jersey, has a new boss. Hard Rock International announced it has purchased majority ownership in the Taj Mahal from investor Carl Icahn.

The acquisition was announced during an event attended by New Jersey Gov. Chris Christie, Atlantic City Mayor Don Guardian and Jim Allen, chairman of Hard Rock International, which is owned by the Seminole Tribe of Florida.

Thanks to a partnership between Hard Rock International and the Morris and Jingoli families, the new Hard Rock Hotel & Casino Atlantic City is scheduled for a summer 2018 grand opening after undergoing a planned $375 million renovation.

The acquisition is expected to create 1,000 jobs during construction and 3,000 permanent jobs after opening of the new Hard Rock Hotel & Casino, the new partners announced.

“From world-renowned music events to innovative dining concepts, we’re excited to bring the Hard Rock Hotel and Casino experience to the Atlantic City boardwalk, which has been home to our Hard Rock Cafe for more than twenty years,” Allen said. “Our commitment to Atlantic City has never been stronger and we look forward to being a catalyst for further growth and development of the area.”

Situated on 17 acres of Atlantic City Boardwalk real estate, the property has views of the city and Atlantic Ocean. In addition to redesigning the entrance to fit the Hard Rock theme, renovations will include a new check-in experience, lobby lounge and complete revamping of guest rooms.

Meeting space will be updated to accommodate a range of functions, from intimate gatherings to large conventions. The existing Hard Rock Cafe in Atlantic City is expected to move to a new 400-seat venue within the future casino. In addition, live music, sporting events, conferences and shows will have two arenas, comprising 7,000 total seats, available for bookings.

“The Morris and Jingoli families are honored and excited to partner with Hard Rock International in the rebuilding of Atlantic City,” said Jack Morris, CEO of Edgewood Properties.

A big part of bringing the Hard Rock experience to Atlantic City entails featuring world-famous musicians and recording artists who emerged from New Jersey. The new casino, set to include 2,400 slots and 130 table games, will incorporate Hard Rock’s signature museum-like wall-mounted displays of music history.

“Memorabilia for the hotel will be carefully hand-selected with a focus on contemporary musicians and artists who call New Jersey home,” Hard Rock International announced.

“Atlantic City has a rich and dynamic history and we are so proud to help recapture that greatness,” Morris said.