The iconic Hard Rock Hotel closed its doors on Feb. 3 to make way for Virgin Hotel, which still plans to open in November or December.
On Wednesday, Hard Rock International announced that it bought back the intellectual property rights for a hotel and casino in Las Vegas, opening the door for the brand to buy or build a new property in the city.
Houston-based private equity firm Juniper Capital purchased the Hard Rock Hotel in 2018 from Brookfield Asset Management, which means the Hard Rock Hotel on Paradise Road wasn’t associated with Hard Rock International, which is owned by the Seminole Tribe of Florida.
Now Hard Rock International owns the “exclusive full rights to memorabilia, signage, and merchandise, along with intellectual property rights for affiliated restaurant and entertainment trademarks and website domain names.”
The new agreement gives Hard Rock International the right to develop any Hard Rock-branded casino and resort within Clark County.
JC Hospitality, which will open Virgin Hotel inside the former Hard Rock Hotel, returned the majority of the memorabilia to Hard Rock International. Vital Vegas reports that about 20 percent was on loan and went back to the original owners. Now Hard Rock International also owns the neon guitar that sat outside the entrance to the resort.
Hard Rock International manages 262 locations around the world.
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