Hard Rock International

Last updated
Hard Rock International
Industry Casual dining restaurants, casinos, hotels
Number of locations
165 restaurants, 24 hotels and 11 casinos
Area served
International
Key people
 Jim Allen (president/CEO of Hard Rock International)
Owner Seminole Tribe
Number of employees
4,800 [1]  (2020)
Divisions Hard Rock Cafe, Hard Rock Hotel and Casino

Hard Rock International is an American conglomerate which owns restaurants, hotels, stadiums, and casinos. Formed in 2007 when the Seminole Tribe in Florida purchased Hard Rock Cafe assets from the Rank Group, [2] Hard Rock International owns the Hard Rock Cafe restaurant franchise, as well as the Hard Rock Hotel and Casino company.

Contents

As of July 2018, Hard Rock International has venues in 74 countries, including 172 bar or cafe-restaurants, 37 hotels, and four casinos. [3] [4] Among other hotels, in 2021, Hard Rock International purchased The Mirage for $1.075 billion. [5]

History

Background

The Hard Rock Cafe first became involved in hotel ownership in the 1990s. In 1995, Hard Rock Cafe co-founder Peter Morton spent $80 million to open the Hard Rock Hotel near the Las Vegas Strip in Las Vegas, Nevada [6] In May 2006, Morton sold the Hard Rock Hotel & Casino, Las Vegas to Morgans Hotel Group for $770 million, including the rights to the Hard Rock Hotel brand west of the Mississippi, including Texas, California, Australia, and Vancouver, British Columbia. [7]

Seminole Tribe acquisition of Hard Rock (2006-2007)

On December 7, 2006, the Rank Group sold its Hard Rock business to the Seminole Tribe of Florida for $965 million. Included in the deal were 124 Hard Rock Cafes, four Hard Rock Hotels, two Hard Rock Hotel and Casino Hotels, two Hard Rock Live! concert venues, and stakes in three unbranded hotels. Rank retained the Hard Rock Casino in London, and rebranded it the G Casino Piccadilly. The Hard Rock Hotel and Casino in Las Vegas was also not part of the deal, as Peter Morton sold it to Morgans Hotel Group in May 2006. [8]

The final takeover was mired in controversy, due to a payment clause in a contract with one casino developer, Power Plant Entertainment. Power Plant and the Seminoles announced a settlement in April 2007 which both sides called equitable. [2] On January 8, 2007, Rank shareholders approved the Seminoles' $965 million offer. The Tribe announced it had finalized the deal on March 11, 2007. [9]

Expansion in casinos and hotels (2008-2025)

On June 22, 2008, the Seminole Hard Rock Hotel & Casino Hollywood began "Vegas-style" table gambling in addition to the Class II slots already in operation. To win approval for the table games, which were barred under Florida law, the Seminole Tribe paid the state of Florida $100 million as part of a 25-year pact signed by Governor Charlie Crist. On July 3, 2008, the Florida Supreme Court ruled that the governor's agreement was unconstitutional, but table games continue to operate because the federal Department of the Interior approved the now-invalid pact with the state. [10]

A similar issue stemmed with sports betting in Florida under the Hard Rock Bet app. Through a new gaming compact, the Seminole Tribe began to offer off-grounds sports betting. Once live in 2021, lawsuits caused the Seminole Tribe to halt operations. [11] Relaunching in November 2023 for returning players, the Seminole Tribe of Florida now operates online sports betting too.

In recent years, its division Hard Rock Hotel and Casino has acquired properties such as The Mirage for $1.075 billion in 2021. [5] Other projects include the Hard Rock Hotel & Casino Athens in Athens, [12] [13] and Hard Rock Casino Cincinnati, [14] [15] among others. It has been bidding to build an integrated resort called Hard Rock Hotel & Casino Metropolitan Park adjacent to Citi Field in Flushing, New York. [16] [17]

Assets and divisions

Hard Rock Hotel and Casino

The company's hospitality division owns properties such as The Mirage, [5] among others.

Hard Rock Cafe

Hard Rock Cafe in Malacca City Hard Rock Cafe, Melaka.jpg
Hard Rock Cafe in Malacca City

The Hard Rock Cafe, an American hard rock theme restaurant formed in 1971 in London, and later franchised internationally.

Hard Rock Club

The Hard Rock Club is a sponsored bar at the Canadian Tire Centre stadium, with Hard Rock branding and memorabilia. [18] The stadium formerly housed Ottawa's first Hard Rock Café when it opened as The Palladium on January 15, 1996, and for many years when it was known as the Corel Centre. The café closed on August 8, 2002, and was replaced with the Frank Finnigan's restaurant. [19] Since October 17, 2013, the restaurant is known as Chek Point, and is sponsored by SportChek. [20] The Hard Rock Club bar was announced on October 9, 2018, and opened near the former Hard Rock Café. The bar features memorabilia from over a dozen artists, restaurant-style seating, and dedicated stadium seating. [18]

Hard Rock Park

In March 2006, Hard Rock Cafe International announced that it had licensed the "Hard Rock" name to HRP Myrtle Beach Operations, LLC, to design, build, and operate a $400 million 150-acre (0.61 km2) theme park called Hard Rock Park. Hard Rock Park opened on April 15, 2008, in Myrtle Beach, South Carolina. The park was expected to draw an estimated 30,000 visitors per day, promised to create more than 3,000 jobs, and was billed as the largest single investment in South Carolina's history. It planned to feature a large concert arena and six zones with more than 40 attractions. HRP Myrtle Beach Operations, LLC, filed for Chapter 11 on September 25, 2008. The company hoped to re-open in 2009 after restructuring. [21] On January 2, 2009, after failing to attract a buyer with a minimum $35 million bid for over two months, Hard Rock Park asked a Delaware Bankruptcy Court to convert the filing to Chapter 7 triggering immediate liquidation of assets to pay off creditors, and closing the park. [22]

New owners renamed the venue Freestyle Music Park and planned to reopen retaining a music-theme, but without the Hard Rock name, by Memorial Day, 2009. The park only operated one additional year and then closed, due to poor attendance. [23]

Hard Rock Stadium

In August 2016, it was reported that the Miami Dolphins' stadium in Miami Gardens, Florida would be renamed Hard Rock Stadium. Super Bowl LIV was held there on February 2, 2020. The stadium in 2016 had hosted the Super Bowl on six occasions and will host seven matches during the 2026 FIFA World Cup. [24]

References

  1. ↑ "Hard Rock's Competitors, Revenue, Number of Employees, Funding and Acquisitions". Archived from the original on June 8, 2020. Retrieved June 8, 2020.
  2. 1 2 John Burstein (April 18, 2007). "Seminoles, developer settle disputes". South Florida Sun-Sentinel . sun-sentinel.com. Archived from the original on October 4, 2013. Retrieved March 20, 2012.
  3. ↑ "Hard Rock Cafe Locations". www.hardrockcafe.com. Retrieved June 30, 2022.
  4. ↑ "Hotel, Resort, and Casino Locations". www.hardrockhotels.com. Retrieved June 30, 2022.
  5. 1 2 3 "Guitar-shaped hotel is latest themed project for Strip". Las Vegas Review-Journal. December 18, 2021. Retrieved March 16, 2022.
  6. ↑ "The Hard Rock Hotel & Casino Las Vegas Selects Rainmaker Group Revenue Management". Hospitalitynet.org. June 22, 2009. Retrieved March 17, 2012.
  7. ↑ Spain, William (May 6, 2006). "Morgans Hotel Group to buy Vegas Hard Rock for $770 million". The Wall Street Journal . marketwatch.com. Archived from the original on January 28, 2013. Retrieved March 17, 2012.
  8. ↑ Adrian Sainz (December 7, 2006). "Seminoles buy Hard Rock cafe". Seattle Post-Intelligencer . seattlepi.com. Retrieved March 20, 2012.
  9. ↑ "Seminole Tribe Finalizes Acquisition of Hard Rock International". PRnewswire. hotels-stl.com. March 11, 2007. Retrieved March 20, 2012.
  10. ↑ Brenda Farrington (July 3, 2008). "Florida Supreme court nixes casino pact". The Seattle Times . seattletimes.com. Associated Press. Retrieved March 20, 2012.
  11. ↑ WCJB Staff (December 6, 2021). "The Seminole Tribe suspends sports betting operations, Hard Rock Sportsbook app shut down". www.wcjb.com. Retrieved November 7, 2023.
  12. ↑ Hard Rock's first hotel casino in Europe is under construction in Athens
  13. ↑ Hard Rock International Breaks Ground on Hard Rock Hotel & Casino Athens
  14. ↑ "Vici Properties Inc. to acquire Jack Cincinnati Casino and lease to Hard Rock International" (Press release). Vici Properties. April 5, 2019. Retrieved April 10, 2019– via BusinessWire.
  15. ↑ "Hard Rock Entertainment purchases Turfway Park". The Blood-Horse. April 8, 2019. Retrieved April 10, 2019.
  16. ↑ "Mets Owner Steve Cohen's Metropolitan Park Plan Commits over $1B in Community Benefits If Casino Gets Green Light from State". Flushing Post. February 12, 2024. Retrieved May 14, 2024.
  17. ↑ Parry, Bill (January 25, 2024). "Hard Rock International CEO Pitches Metropolitan Park Opportunity with Queens Business Community". QNS. Retrieved May 14, 2024.
  18. 1 2 Sens Communications (October 9, 2018). "Rideau Carleton Casino and Senators announce exclusive collaboration". NHL.com. Retrieved April 8, 2019.
  19. ↑ Corel Centre (December 7, 2002). "Restaurants - Home of the Ottawa Senators Hockey Club (National Hockey League)". Archived from the original on December 7, 2002. Retrieved April 11, 2019.
  20. ↑ Lund, Chris (October 16, 2013). "Chek Point to open Thursday". NHL.com. Retrieved April 11, 2019.
  21. ↑ "S.C.'s Hard Rock Park files for bankruptcy after inaugural season". USA Today . usatoday.com. September 25, 2008. Retrieved March 16, 2012.
  22. ↑ "Hard Rock Park requests liquidation". Orlando Sentinel . Orlandosentinel.com. January 3, 2009. Retrieved March 17, 2012.
  23. ↑ "Coastal business: Freestyle Music Park attorney sees better market". The Sun News . myrtlebeachonline.com. February 8, 2011. Archived from the original on April 3, 2012. Retrieved March 20, 2012.
  24. ↑ Jackson, Barry (August 16, 2016). "Miami Dolphins' stadium gets a new name: Hard Rock". Miami Herald. Retrieved August 17, 2016.
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