Hard Rock to manage Philadelphia casino-hotel

"We are thrilled to be working with Tower Developments on this project," said Jim Allen, Chairman of Hard Rock International. "We look forward to bringing years of casino experience to downtown, with many on the executive team having Philadelphia roots. The state-of-the-art venue will provide world-class entertainment with the convenience of the downtown location."

The new project will also be a boost to the local economy. "The multi- faceted amenities of this unique resort and casino complex will make it a regional tourism attraction that will push the prosperity and boundaries of Center City north on Broad Street," said Bart Blatstein, President and CEO of Tower Developments.

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 Hard Rock Hotel brand to Panama and two properties in Mexico. Hard Rock International also has licensed 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.

The project is contingent on Tower Entertainment, being awarded the appropriate licenses and obtaining financing.