Hard Rock International and VICI properties have announced that they would be jointly purchasing both Jack Casino Cincinnati and Turfway Park.
The purchase deal has been finalised, and both Hard Rock and VICI have also sorted it out amongst themselves as Hard Rock will be operating the casino and rebranding the venues as Hard Rock Casino Cincinnati, VICI Properties will keep the land and real estate assets.
Jim Allen, chairman, and CEO of Hard Rock International said, “Hard Rock has been the number one operator in Ohio since opening in the greater Cleveland market in 2013. And now, we look forward to introducing our unique brand of casino entertainment to Cincinnati. On behalf of the 40,000 Hard Rock team members worldwide, I am pleased to welcome the more than 1,000 JACK Cincinnati employees into the Hard Rock family.”
With 100,000 square feet of gaming space,1,800 gaming machines and 100 table games Jack Cincinnati is a famous downtown casino. The property also features a 33,000 square feet meeting space and has six top quality luxury restaurants and two bars.
John Payne, president, and chief operating officer of VICI Properties, said, “We are proud to partner with Hard Rock, further diversifying our tenant roster with an international leader in gaming, entertainment and hospitality experiences and a renowned global platform of 245 hospitality venues across 75 countries.”
“As one of only four full-scale casinos permitted in Ohio, the property is poised to benefit from the introduction of Hard Rock, a dynamic and proven operator in the Ohio market. We look forward to supporting Hard Rock as they continue to execute on their growth strategy throughout the U.S. and globally,” he added.
“I am pleased to welcome the more than 1,000 JACK Cincinnati employees into the Hard Rock family, ” said, Jim Allen chairman and CEO, Hard Rock International.
The deal is expected to be closed by the end of 2019. It is a subject to regulatory approval though.