Hard Rock completes JACK Cincinnati transaction
Hard Rock International has revealed that it completed the transaction for the JACK Cincinnati casino with VICI Properties.
US.- JACK Cincinnati Casino’s operating assets have been acquired by Hard Rock International. The casino company confirmed the completion of the transaction with VICI Properties on Monday.
The agreement with VICI Properties establishes that the latter still owns the land where JACK Cincinnati Casino is located. VICI will also retail its real estate assets. On the other hand, Hard Rock is now in possession of the facility’s operating assets.
JACK Cincinnati Casino will continue to operate under its current brand until next year’s spring. After that period, it will reopen its doors as Hard Rock Casino Cincinnati, the companies informed on a press statement.
Jim Allen, Chairman and CEO of Hard Rock International, said: “We look forward to offering our world-class experience to guests in the region, building upon our success in the greater Cleveland area. On behalf of more than 45,000 employees worldwide, we welcome over 1,000 former JACK employees into our Hard Rock family.”
John Payne, President and COO of VICI Properties, said: “We are proud to partner with Hard Rock, further diversifying our tenant roster with an international leader in gaming, entertainment and hospitality experiences and a renowned global platform of 259 hospitality venues across 75 countries.”
