Casino News

Seminole tribe to buy Hard Rock

2006-12-07 16:13:59

The famous Hard Rock cafe and casino business is to be sold to Florida's Seminole tribe for $965 million, it has been revealed.

The Hard Rock brand, which includes 124 Hard Rock Cafes, numerous hotels and casino resorts, will now be expanded to prioritise casino development across the world, the tribe said.

"We realise the power and longevity of this brand," said Seminole Gaming chief executive Jim Allen, speaking to the Reuters news agency.

Rank, the current owners of the Hard Rock properties, currently owns 33 casinos in the UK and says it will now also focus on expanding gaming activities.

"Our strong portfolio of gaming assets will enable us to take advantage of the long-term growth in the gaming market," said chief executive Ian Burke in a conference call with journalists.

The first Hard Rock cafe was opened in London in 1971, with the brand rapidly expanding into the international market.


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