Hard Rock Hotel Floats Sale

Hard Rock is considering selling its Las Vegas hotel and casino, according to a company statement.

However, one source has said the use of the entire Hard Rock trademark west of the Mississippi might part of the deal.

Hard Rock Hotel Inc. announced February 21st it has received more than one offer to buy the hotel-casino.

“The company has determined that it will explore a potential sale. There can be no assurance that this process will lead to a transaction,” Hard Rock Hotel said in a statement. Executives would not comment further.

In October, Hard Rock co-founder Peter Morton secured $1.25 billion in financing to expand the hotel project, according to The Wall Street Journal. Morton purchased a 24-acre parcel adjacent to the hotel two years ago for a five-building entertainment and lodging complex, the paper said.

One source told the WSJ the purchase price would exceed $600 million. Another source close to the discussions said the sale could include the use of the trademark in Western states – coinciding with the territory of Morton, who owns the Hard Rock brand on the left-hand side of the country.