Hard Rock Reacquires Global Casino, Hotel-Casino Rights
PHOTO: The Hard Rock Hotel & Casino in Lake Tahoe, Nevada, is one of four properties acquired by the Hard Rock Hotels & Casinos portfolio. (Photo via Flickr/FolsomNatural)
Hard Rock International announced the completed reacquisition of its global casino and hotel-casino rights Friday, uniting the brand under one controlling ownership for the first time in more than three decades in a move destined to open up new opportunities to expand.
Hard Rock acquired the rights from affiliates of BREF HR, LLC, which own and operate the Hard Rock Hotel and Casino in Las Vegas.
The transaction means that Hard Rock International can exclusively develop, own, license, franchise and manage Hard Rock casinos and hotel-casinos in the western U.S. — including Minnesota and other states located west of the Mississippi River — in addition to Australia, Brazil, Israel, Venezuela and Vancouver, British Columbia.
What's more, the reacquisition adds four properties to the Hard Rock Hotels & Casinos portfolio, including the Hard Rock Hotel & Casino Lake Tahoe, Nevada, the Hard Rock Hotel & Casino Sioux City, Iowa, the Hard Rock Hotel & Casino Tulsa, Oklahoma and the Hard Rock Casino Vancouver.
The affiliates of BREF HR, LLC will continue to own and operate Las Vegas' Hard Rock Hotel and Casino in wake of the reacquisition. Nonetheless, the Hard Rock Hotels & Casinos portfolio now boasts more than two dozen hotels and resorts altogether.
As part of the contract, Hard Rock International also acquired additional memorabilia, giving it more than 81,000 pieces globally.
"This is a historic day for the brand and we could not be prouder to announce this acquisition that we believe ignites the path for further expansion around the globe," said Hard Rock International chairman Jim Allen in a statement.
"With the newly acquired rights the Hard Rock brand has now been united for the first time in more than 35 years under one controlling ownership, the Seminole Tribe of Florida, allowing for globally consistent customer service and standards at all of our locations," Allen concluded.
As Allen points out, Friday's announcement means the brand is well-positioned to expand in key markets moving forward.
For more Hotel & Resort News
More by Patrick Clarke
Get Travel Deals and Travel News
Recent Travel Opinions
Airlines & Airports
Cruise Line & Cruise Ship