“It is also an opportunity for the Seminole Tribe to diversify its business operations and help a very successful company to achieve even greater growth.” “This is a proud moment for the Seminole Tribe of Florida and for all Indian tribes,” said Mitchell Cypress, head of the Seminole’s tribal council, in a news release.
Shares of the U.K.-traded Rank fell 4.1%, or $11, late Thursday. Last year, Hard Rock posted revenue of $493 million and profit before interest and taxes of $68.6 million. The deal includes the company’s 124 Hard Rock Cafes, four hotels, two casinos and concert venues, as well as stakes in three unbranded hotels.Īs part of the deal, the Seminoles also obtain some 70,000 pieces of rock memorabilia. The Seminole Tribe of Florida will buy the Hard Rock business from the British hotel and casino company
