Hard Rock International will move its headquarters from Orlando to Hollywood, Florida, by next summer, the company announced this week.
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The Seminole Tribe of Florida bought the Hard Rock chain in 2007, and the move will consolidate operations near the tribe's base in South Florida.
“At this time, details of the move and timing are still to be determined,” said a statement released by Hard Rock. The Orlando Sentinel reports that 200 employees in Orlando had not yet been told whether they would be given the option to relocate.
News of the relocation comes six months after Hamish Dodds resigned, having served as CEO for 13 years. Jim Allen now serves as chairman of Hard Rock International and CEO of its related entity, Seminole Gaming.
Allen helped the tribe develop its lucrative gaming compact with the State of Florida, which gives the tribe exclusive rights to operate blackjack and certain types of card games in exchange for $340M in annual payments to the state. That deal is in effect until 2030.
The tribe operates seven casinos in Florida (two of which fall under the Hard Rock brand); in total, these are estimated to earn $2.3B in gross revenue each year. For comparison, the eight other racinos in the state collectively earn a total of $578M from poker and dog and horse racing combined.
The first Hard Rock Cafe — a restaurant with rock 'n' roll-themed décor and memorabilia — opened in London in 1971. The brand expanded to include gaming and resorts. Today there are 176 cafés, 24 hotels and 11 casinos in locations around the world, including Nigeria, Mongolia and Fiji.
In March, Hard Rock announced that it would renovate and rebrand the former Trump Taj Mahal casino in Atlantic City, New Jersey, for $375M. Also this spring, the company began expanding its Hollywood property, adding five restaurants and a hotel shaped like a guitar.
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