On Wednesday, Hard Rock International revealed that it has bought the complete intellectual property rights for the Hard Rock Hotel & Casino in Las Vegas from Juniper Capital.
Fun fact: Until recently, the company owning the Hard Rock brand had no connection with the Hard Rock Hotel & Casino in Las Vegas, and the same was true in reverse.
The transaction grants Hard Rock International exclusive access to memorabilia, signage, and merchandise, as well as intellectual property rights for related restaurant and entertainment trademarks and website domain names.
This implies that Hard Rock International and its related companies are now free to develop, own, license, manage, or operate any Hard Rock-branded casino and integrated resort within Clark County, Nevada.
“Hard Rock is looking forward to enhancing our presence in Las Vegas, one of the world’s most iconic entertainment markets. This agreement signifies an exciting new chapter for us, not just in Las Vegas, but beyond,” said Jim Allen, the Chairman of Hard Rock International.
Hard Rock Casinos
Earlier this year, the Hard Rock Hotel & Casino in Las Vegas shuttered its doors. It is currently under renovation and is set to reopen as Virgin Hotels Las Vegas, located just east of the Vegas Strip. Despite the coronavirus pandemic sweeping across the country, the property’s renovation has not been discontinued. As construction is deemed an essential business, the renovations persist and the reopening of Virgin Hotels Las Vegas is expected to take place post Election Day.
Hard Rock International has been granted permission to establish its inaugural casino in Las Vegas through this deal. Hard Rock casinos are scattered throughout the US and Canada, with locations in Lake Tahoe, Atlantic City, and Vancouver, among others. The Hard Rock Seminole manages several casinos in Florida, one of which is the property in Hollywood, Florida, that boasts a hotel tower shaped like a guitar.
Hard Rock Returning To Las Vegas
Following years of speculation that Hard Rock International was interested in buying a Las Vegas casino, an announcement has been made. In 2018, Vital Vegas shared rumors of a possible purchase of the Cosmopolitan by Hard Rock International. The casino operators are among the few that could afford the hefty $4 billion asking price. Blackstone, however, might reduce the sales price. Las Vegas business may experience a slowdown as tourists are hesitant to fly amidst the ongoing spread of coronavirus across the country.
A new Hard Rock Hotel & Casino could potentially be located right across the street in Las Vegas. Currently, Eldorado Resorts is merging with Caesars Entertainment. Despite being operated by Eldorado, the merged company will bear the name Caesars.
Eldorado Resorts’ CEO, Tom Reeg, has stated that the newly formed company will sell at least one Vegas Strip property after the deal is finalized. Among the rumored casinos for potential divestment is Planet Hollywood. Interestingly, the artist Pitbull, featured in the video above, holds a residency at Planet Hollywood.
This announcement might indicate the arrival of a new Hard Rock Hotel & Casino on the Vegas Strip in the near future.
