Hard Rock International Announces Joint Venture for Hard Rock Gaming and Entertainment Facility at Northfield Park in Northeast Ohio
NORTHFIELD, Ohio, April 5, 2012 /PRNewswire/ -- Hard Rock International, owner of one of the world's most iconic brands, announced today that it has entered into a joint venture and related agreements to acquire equity in, and to develop and operate a Hard Rock Gaming and Entertainment Facility at Northfield Park racetrack in Northeast Ohio. This proposed project is subject to the satisfaction of certain conditions, including a successful resolution of the pending litigation in Ohio regarding video lottery terminals ("VLTs").
The proposed $275 million Hard Rock project would include a Hard Rock-branded gaming center, premium steakhouse, Hard Rock Cafe, ongoing lineup of live music and iconic music memorabilia from Hard Rock's unmatched collection, as well as a center bar, buffet and conference and meeting space. The development is expected to generate approximately 1,000 permanent jobs, more than 1,000 construction jobs and countless jobs associated with local suppliers and vendors.
The Hard Rock Gaming and Entertainment Facility would be developed as part of the current Northfield Park Racetrack located in Northfield, Ohio. Northfield Park is one of the nation's premier harness racetracks, and the joint venture with Hard Rock will enable the racetrack to provide additional enhancements to its current programming that features more than 200 live racing events each year.
"We are thrilled to be working with Milstein Entertainment and the Northfield Park team on this project," said Jim Allen, Chairman of Hard Rock International. "We look forward to bringing the renowned Hard Rock brand to Northfield Park, as the Hard Rock Gaming and Entertainment Facility would be a state-of-the-art venue, providing world-class entertainment experiences that are unique to the region to complement the local community and its surroundings."
"Being from Northeast Ohio, I take great pride in the region and the partners we choose to bring here," said Brock Milstein, Chairman and CEO, Northfield Park and Milstein Entertainment. "Given the impressive history of the Hard Rock brand and its reputation for developing fun and unique experiences around the world, we couldn't have chosen a better global brand to develop and operate this venue."
Internationally recognized as a world-class entertainment and lifestyle brand, Hard Rock's current Hotel and Casino properties include two of the most successful resort casinos in the United States, Seminole Hard Rock Hotel & Casino Hollywood and Seminole Hard Rock Hotel & Casino in Tampa, both in Florida. Recent expansion has brought the Hard Rock Hotel & Casino brand to Punta Cana in the Dominican Republic, and additional hotel projects have been announced including Hard Rock Hotel Panama Megapolis and three new all-inclusive Hard Rock Hotels in Mexico. Hard Rock also has Hotel and Casino properties in Macau, Las Vegas and Biloxi, as well as a portfolio of standalone hotels and destination resorts operating throughout North America and Asia.
About Hard Rock International
With a total of 173 venues in 53 countries, including 138 Cafes and 15 Hotels/Casinos, Hard Rock International is one of the world's most globally recognized brands. Beginning with an Eric Clapton guitar, Hard Rock owns the world's greatest collection of music memorabilia, which is displayed at its locations around the globe. Hard Rock is also known for its collectible fashion and music-related merchandise, Hard Rock Live performance venues and an award-winning website. In addition to the two flagship Seminole Hard Rock Hotels and Casinos in Tampa and Hollywood, Fla., Hard Rock Hotels/Casinos are located in Las Vegas, Biloxi, Orlando, Chicago, San Diego, Pattaya, Bali, Macau, Penang, Singapore and Punta Cana. Additional hotel and casino projects have been announced including Panama Megapolis, scheduled to open in 2012; Cancun and Vallarta scheduled to open in 2012; and Riviera Maya, Hungary, Dubai and Abu Dhabi, scheduled to open in 2013. Hard Rock International is owned by Seminole Hard Rock Entertainment, Inc. For further details on Hard Rock Hotels and Casinos, visit www.hardrockhotels.com. For more information on Hard Rock International, visit www.hardrock.com.
About Northfield Park and Milstein Entertainment LLC
Northfield Park, Ohio's premier racetrack and one of the nation's top harness racing facilities, is situated on 115 acres located 15 miles south of Cleveland and 18 miles north of Akron, Ohio. Northfield Park is a year round operation that conducts more than 200 nights of live racing a year and simulcasts both thoroughbred and harness racing 364 days a year. Northfield Park was purchased by the Ohio based Milstein family in 1972. Various Milstein companies have invested in excess of a billion dollars in Ohio business ventures and commercial real estate projects over the past 50 years and the Milstein's, through Milstein Entertainment LLC, are solidly committed to making Northfield Park one of the top entertainment destinations in the region. For more information on Northfield Park, please visit www.northfieldpark.com.
SOURCE Hard Rock International