For us$ 965-million
Rank shareholders approved sale of Hard Rock business to Seminole Tribe of Florida
(UK).- Shareholders in Rank Group PLC have approved the us$ 965-million sale of the Hard Rock cafes and associated businesses to the Seminole Tribe of Florida. The company said shareholders approved the sale at a meeting on Monday.
2007-01-10
Reading time 23 seg
On December 7, Rank announced that it had agreed to sell the Hard Rock business, including its massive collection of rock 'n' roll memorabilia.
The Hard Rock business includes 124 Hard Rock Cafes, four Hard Rock Hotels, two Hard Rock Casino Hotels, two Hard Rock Live! concert venues and stakes in three unbranded hotels.
The Seminole Tribe, the first U.S. tribe to get into the gambling business, owns and operates five other casinos in Florida. More than 90 per cent of the tribe's budget now comes from gaming revenue. Nearly 3,300 Seminole Indians live on and off reservations throughout Florida.
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