VIP & VIP+
Exclusive Content   Join Now

Seminoles want piece of the (Hard) Rock!

May 7, 2002 10:52 AM

THE MONEY’S IN THE REGISTER to build a pair of Hard Rock Hotel casinos and resorts in Florida. The Seminole Indian Tribe of Florida completed the sale of $315 million of Capital Trust Agency Revenue bonds, which will yield interest of 10%, to finance the projects.

The first will be built in Hollywood and will include construction of a 750-room resort. The resort is expected to include 115,000 square feet of gaming space, 2,000 slot machines, 65 gaming tables and 12 restaurants ”” one of which will be a Hard Rock Café.

The second project will be similar to the Hollywood one and is expected to have 90,000 square feet of gaming space, 10 restaurants and 250 hotel rooms.

The Seminole tribe will own the hotels and license the Hard Rock name from the parent company of Orlando-based Hard Rock International. The licensing agreement has a term of 15 years. It entitles Hard Rock to an annual fee of either 3% of net gaming revenue or $3 million, whichever is greater.

Existing Seminole gaming facilities generated $247 million for the year ended June 30, 2001.

SAY IT ISN’T SO! After two hours of passionate debating in the Kansas House, the vote to allow slot machines at horse and dog tracks ended up in a tie. But, one member, whose vote would have pushed the plan over the top, said her voting button malfunctioned.

Guess what? When they did a re-vote several members switched sides. But, it all worked out in the end and the plan won approval by a single vote ”” 60-59.

WIN, PLACE, SHOW! You can throw a blanket over the three Atlantic City casinos and their March revenue. Leading the way by a notch was Bally’s Atlantic City ($42.8 million). A close second was Trump’s Taj Mahal ($42.6 million). Caesars Atlantic City came in third ($40.2 million).

SELLING SPREE! A number of casino executives have either sold or registered to sell company stock. Frank Fertitta III, Station Casinos, sold 374,100 shares.

Frank Fertitta III

Paul Hornung

Billy Kilmer

Bo Derek

DERBY SIGHTINGS . . . The Golden Boy, aka Paul Hornung of Green Bay Packer, fame was among a contingent of happy NFLers Saturday at Churchill Downs. "Paul is an astute handicapper," said a friend. "He loves the races and is frequently in attendance. Paul supports his pastime at the mic of a popular sports show in Louisville, a city he calls home." . . . Billy Kilmer was also in the gathering. Old timers will remember him as a one time quarterback for the Washington Redskins . . . Dick Duchossois of Arlington Park fame gathered with friends at a table on the fourth floor at Churchill. His aide de camp, Bill Thayer, entertained at a gathering of friends and racetrackers on the fifth floor. How’s that for double-teaming in the name of horse racing? Finally, the radiant Bo Derek was shining brightly in the clubhouse. Bo has been a regular at Churchill Downs in recent years, obviously a big fan of the Run for the Roses.

YOU GOTTA HAVE HEART! And, it says here, people who work on the racetrack have miles and miles of it. Randy Romero, a riding hero in his days, is on the waiting list for liver and kidney transplants. Two racetrackers ”” Shane Sellers and Ronnie Ebank ”” each threw fund raisers in Louisville at the Coyote, a popular downtown waterhole, and Ambassador West. Admission tickets at both events went for $1,000 a pop. Both were sold out.