Hard Rock has also won a bid to build an IR near Barcelona in Catalonia , although Allen admits that with political upheaval in Catalonia , the company has more work to do .
Allen says the guitar theme will be replicated in Mexico City and possibly in Japan , where the company has been laser-focused on the Hokkaido prefecture . While it ’ s not the biggest region in Japan , Allen says it ’ s still a worthwhile effort .
“ My analogy has always been , everyone who trains for the Olympics wants to win the gold medal ,” he says . “ But there ’ s nothing wrong with a silver or a bronze . We felt we had a better chance to plant our flag in Hokkaido than either Osaka or Tokyo , so we ’ ve spent a lot of time working with local government , vendors and communities .”
Meanwhile , Hard Rock International has its eyes on the Las Vegas Strip , and the timing would appear to be right for the global gaming and hospitality giant to make a move .
Eldorado Resorts , which is buying Caesars Entertainment , has said at least one of Caesars ’ eight destinations on the Strip is likely to be sold after Eldorado completes its $ 17.3 billion acquisition of the gaming giant sometime in the first half of 2020 . Observers have identified a number of well-known Caesars names that could wind up on the block : Bally ’ s and
Planet Hollywood , to name two , and possibly Paris . In a recent interview with Bloomberg Radio , Allen said the Strip is “ certainly ” on the company ’ s radar . “ We look at this as a great opportunity for our brand .”
Allen said he finds Planet Hollywood “ very interesting ” and believes Bally ’ s also is “ one of the possibilities ,” given it ’ s located on “ one of the most legendary corners ” on the Strip .
Allen explains to GGB that although interesting , the rights to the Hard Rock name in Las Vegas still have to be clarified , and nothing will happen until the original Hard Rock Las Vegas , never a part of Hard Rock International , closes for renovation and rebranding to a Virgin hotel in February . Still , a Las Vegas presence for Hard Rock seems to be inevitable . “ I think it would be good for them ,” says Michael Parks , senior vice president of real estate giant CBRE and a member of its gaming group . “ With Las Vegas being one of the most recognizable leading markets in the world it shows they ’ re a true player in the global gaming arena .”
Brendan Bussmann , a partner with Global Market Advisors , says a Strip asset could give Hard Rock a “ leg up ” as it competes for one of those highly coveted licenses .
“ Nevada still holds the gold standard of that ( gaming ) regulatory structure , ( and ) the Japanese have definitely signaled throughout this process that they want a strong regulatory market ,” he says . “ Anyone licensed here can operate in a much more meaningful way in Japan .”
The reason for the Hard Rock success is simple , according to Allen .
“ We ’ ve got the best balance sheet in the business ,” he says . “ And we ’ ve got the support of a great tribal council that encourages us to invest and make the business stronger .”
2019 CASINO STYLE 23