Morgans Closes Hard Rock Deal

Morgans Hotel Group on Monday announced it completed its $770 million purchase of the Hard Rock Hotel & Casino in Las Vegas from founder Peter Morton. The deal is separate from the Seminole Tribe of Florida's $965 million purchase of Hard Rock casinos, restaurants, hotels and memorabilia from London-based Rank Group PLC, announced in December. Morgans' CEO Ed Scheetz said the group looked forward "to taking the iconic Hard Rock property to a new level of sophistication."

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