Hard Rock International buys back rights to its Las Vegas hotel & casino

Hard Rock International (HRI) announced on Wednesday it has purchased all rights to the Hard Rock brand and related trademarks in Las Vegas from Houston-based private equity firm, Juniper Capital, which had acquired the Hard Rock Hotel & Casino Las Vegas in 2018 from Brookfield Asset Management.

The transaction allows HRI exclusive full rights to memorabilia, signage and merchandise, along with intellectual property rights for affiliated restaurant and entertainment trademarks and website domain names. Effective immediately, HRI and its affiliates will no longer be restricted from developing, owning, licensing, managing, or operating any Hard Rock-branded casino and integrated resort within Clark County, Nevada.

"This agreement marks an exciting chapter for Hard Rock, in Las Vegas and beyond," said Jim Allen, Chairman, Hard Rock International. "We look forward to the opportunity of enhancing our presence in Las Vegas, which will always be one of the most iconic entertainment markets in the world."

Hard Rock International, which is owned by the Seminole Tribe of Florida, already manages 262 locations around the world, including multiple casino-hotels in the U.S.

The former Hard Rock Hotel at Paradise and Harmon closed its doors in February to undergo several months of renovations. The property is expected to re-open later this year with the Virgin Hotels branding.