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Seminoles complete $965M purchase of Hard Rock

HOLLYWOOD Fla. The Seminole Tribe of Florida has completed its $965 million acquisition of Hard Rock International Inc., the rock-and-roll themed chain of restaurants, hotels, casinos and live performance venues.

The purchase includes the Hard Rock brand formerly controlled by London-based The Rank Group PLC, the entire collection of music memorabilia and 68 corporate Hard Rock Cafes and retail stores, including 44 in the United States, three in Canada, 17 in Europe, three in Australia and one in Puerto Rico. The deal also includes licensing or franchise agreements for another 56 restaurants and five hotels, plus Hard Rock Live performance venues. Hard Rock International is based in Orlando, Fla.

The Seminole Tribe already had operated two Seminole Hard Rock Hotels & Casinos in Tampa and Hollywood, Fla., under a license agreement with Hard Rock International.

The deal, first announced in December, was hit with a lawsuit in January from the developing partner of the Seminole Hard Rock properties. That lawsuit was settled prior to the acquisition's closing and included a loan and future payments from the Seminole Tribe to the plaintiffs.

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