EAST RUTHERFORD — Top brass at Hard Rock International and Meadowlands Racing and Entertainment will be unveiling details of a proposed casino in the Meadowlands next week that, some contend, could bring in hundreds of millions of dollars to a state desperate for tax revenue.

"A casino at the Meadowlands could generate more than $400 million in yearly revenue, which could fund critical priorities, such as property tax relief for seniors and veterans' programs, in addition to helping rebuild Atlantic City and create more than 10,000 jobs in the area," the companies said in a media statement on Tuesday.

Hard Rock, which owns a 16 percent ownership stake in the Meadowlands Racetrack, will be disclosing details and showcasing renderings of The Hard Rock Casino with track officials at the Victory Sports Bar on June 3.

Officials at Hard Rock International did not immediately offer any details on the proposed casino, which would be built next to the new $88 million grandstand.

But Meadowlands Racing Chairman Jeff Gural told The Associated Press that the casino would pay a 55 percent tax rate on winnings.

"I think people will be very pleasantly surprised at the project we will unveil, because I'm prepared to pay the Pennsylvania tax rate, which is seven times higher than the rate in Atlantic City," Gural said. "Our plan is to share some of that with Atlantic City to help them rebuild and recover. I look at this as a win for the taxpayers and for Atlantic City."

The Meadowlands proposal follows an April report from a Deutche Bank research analyst who concluded that a casino in North Jersey would generate "over $500 million, putting $275 million into the state's coffers and thus is a smart move for the state."

Officials, including Gov. Chris Christie and Senate President Steve Sweeney, have discussed the possibility of a referendum in November on expanding gambling outside of Atlantic City, which saw four casinos close in 2014.

The deadline for a November ballot question is in June, which may push any referendum to 2016 or later.

Legislators in South Jersey have also largely resisted measures to expand gambling outside the beleaguered gaming city.

At least two other business magnates have expressed interest in building a casino in North Jersey if gambling were legalized.

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