Casino Conditions
- Home
- About Us
- Contact Us
- eCOGRA Casinos
- Online Casino Reviews
- Wagering Requirements
- Managing Your Bankroll
- Casino Deposit Methods
- Reputable Casino Software
- Online Casinos Blacklist
- Internet Gambling History
- Basic Gambling History
- Industry Conferences
- Betting News

 Gaming Rules
- Baccarat Rules
- Blackjack Rules
- Craps Rules
- Keno Rules
- Poker Rules
- Roulette Rules
- Slots Rules
- Video Poker Rules

 Gaming Tips
- Baccarat Tips
- Blackjack Tips
- Craps Tips
- Keno Tips
- Poker Tips
- Roulette Tips
- Slots Tips
- Video Poker Tips
 
Online Casino Conditions >>> Betting News >>> December News


Seminole Tribe Reveals Plans for Hard Rock Hotel Casino Chain

by Ryan O'Donnell, News Staff
Writer
December 13, 2006

Following a purchase agreement between the Rank Group and Florida Seminole Indians for Rank's Hard Rock International Hotel and Casino chain, the Seminole tribe has announced their intentions to expand the chain even more with 25 to 50 new Hard Rock hotels in the U.S. over the next ten years. Putting up $965 Million for the deal with Rank Group, the Seminole Tribe certainly has maxed out their investment, which some financial analysts think may be too much for the tribe to repay, considering the costs derived from the construction of their casinos.

The Seminole Hard Rock Casino in Hollywood, Florida, along with the Orlando Hotel and Tampa Hard Rock Casino and Hotel account for a major portion of Hard Rock International's revenue (the hotels alone accounted for approximately 30% of the company's $68.3 million in profit for the year 2005). With a 36% increase in revenue from Florida Indian casinos in 2005 resulting in a $1.3 billion/year industry, the Seminole Tribe is certainly in a good position to repay all of their outstanding debts, which Standard & Poor's confirmed by validating the tribe's financial flexibility.

Seminole tribe spokesman, Gary Bitner, said the tribe will definitely be helping the Hard Rock chain to thrive and continue growing. Keeping all 124 Hard Rock cafes in business in over forty different countries, the Seminole's will be putting most of their investment energy into expanding the hotel/hospitality side of the chain and meeting their goal of 25 to 50 new hotels in the next ten years. Bitner says the tribe will also be taking into consideration a more modern look for Hard Rock, appealing to the younger generation not so easily enamored by the fifties rock music style which Hard Rock was founded upon.

Back to Betting News Index

 

© 2005 - Online Casino Conditions.com