Hard Rock International, one of the world's most iconic brands, has announced 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.
(Hard Rock International)