Get Ready, Hard Rock International is Coming to Cincinnati
Under the provisions of this new deal, Hard Rock will acquire the JACK Cincinnati Casino – or its operating assets, to be more precise. Following the acquisition, the venue will then be rebranded as the ‘Hard Rock Casino Cincinnati’, while VICI Properties will become the owner of the land and real estate assets.
Expanding Its Global Gaming Portfolio
This move is definitely an important one, as it will allow the company to further expand its market presence. At this moment, Hard Rock International has venues in more than 75 countries around the world, while the list of its venues also includes 185 cafes, 27 hotels and 11 casinos.
Commenting on the new deal, Jim Allen, chairman and CEO of Hard Rock International said the company had been the number one operator in Ohio since opening in the greater Cleveland market in 2013 and was now looking forward to introducing its unique brand of casino entertainment in Cincinnati.
Allen added that on behalf of the 40,000 Hard Rock team members worldwide, he was pleased to welcome more than 1,000 JACK Cincinnati employees into the Hard Rock family.
Where is it?
JACK Cincinnati is located in the Broadway Commons area of downtown Cincinnati, and features 100,000 square feet of gaming space, with around 1,800 gaming machines and 100 table games. In addition to this, there are 33,000 square feet of meeting space, as well as 6 restaurants and 2 bars.
The exact plans Hard Rock has with this property should be revealed in the coming months.
John Payne, president and chief operating officer of VICI Properties said his company was proud to partner with Hard Rock, further diversifying our tenant roster with an international leader in gaming, entertainment and hospitality experiences and a renowned global platform of 245 hospitality venues across 75 countries.
Both sides are now waiting for regulatory approvals, while the entire transaction is expected to be completed by the end of the year. It is also expected the move bring gradual growth or increase as soon as it’s closed.
About Hard Rock International
Founded in 1971, Hard Rock International (HRI) has since become one of the most globally recognized brands. In addition to its invaluable collection of music memorabilia, displayed at its facilities around the world, Hard Rock is also known for its fashion and music-related merchandise.
The company has its cafes in London, New York, San Francisco, Sydney and Dubai, and also owns, licenses and/or manages hotel/casino properties worldwide, including its Hotel and Casino properties in Tampa and Hollywood, Florida, owned and operated by The Seminole Tribe of Florida, to whom the company was sold back in 2007.
Last week, the company announced the expansion of the Seminole Hard Rock Hotel & Casino in Tampa, Florida, scheduled to open late summer 2019.
In 2018, Hard Rock International was recognized as a Forbes Magazine Top Employer for Women and Land Operator of the Year at the Global Gaming Awards.