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Hard Rock Trading Hands for $965M

HOLLYWOOD, FL-The Seminole Tribe here is buying the 130-plus asset Hard Rock International from British gaming company Rank Group PLC.

By Ian Ritter | Updated on December 07, 2006

(Ian Ritter is national online editor for GlobeSt.com/RETAIL.)

HOLLYWOOD, FL-The locally based Seminole Tribe of Florida is buying the Hard Rock café, casino and hotel business from gaming operator Rank Group PLC of London for $965 million, or about £490 million. The deal, which the parties expect to close in March, will give the Seminole Tribe 124 Hard Rock Cafes, four hotels, two casino-hotels, two live-music venues and equity interests in three hotel assets.

Rank is selling the chain to focus on its UK gaming operations, which include 113 bingo clubs across the country. Seminole executives, the owners of Hard Rock Casinos here and in Tampa through agreements with Rank, were not immediately available for comment.

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