Thursday, December 07, 2006

Rank Group Sells Hard Rock Cafe Business to Tribe

The Rank Group, traded on the London Stock Exchange under the stock symbol RNK, is selling its Hard Rock Cafe business to the Seminole Tribe of Florida. The business includes two Hard Rock Casino Hotels (but not Las Vegas one which is owned by Morgans Hotel Group, traded on NASDAQ under the symbol MHGC), 124 Hard Rock Cafes, four Hard Rock Hotels, and two Hard Rock Live! concert venues. The price is $965 million.

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