Hard Rock Restaurant Chain May go Gambling Online

6 Jul 2006

Rank, a leading online and land gambling British group, could be selling one of the most well-known international restaurant chains in the world, Hard Rock. The gambling group is focusing on bingo and casino businesses and will possibly sell off the famous chain. Speculation by the British business press put the possible price tag at GBP 500 million. Ian Burke, the new chief executive of Rank, has brought in Merrill Lynch to help decide whether or not it should remain part of the group.



If Rank decides to sell the business, it may decide to hold on to the Hard Rock brand for use on British casinos and land gambling sites under a licensing agreement. It is believed that Rank has already to fielded several informal approaches for the restaurant chain from private equity firms. According to media reports, Burke is looking at ways of using the proceeds of the disposals to help make Rank’s gambling presence more prominent. The company has made bids for some of the new land casino licenses on the market under the new Gambling Act; he is understood to be interested in making further Internet gambling acquisitions, having informally singling out online operators, including 888 Holdings.



Whatever happens with this popular and famous restaurant chain known as the classic Hard Rock Café, it will surely be monumental if it should be sold. Gambling fans who love to visit Las Vegas’ Hard Rock Hotel and Casino, and other music fans that have collected t-shirts, hats, and other paraphernalia produced by the worldwide chain, will anxiously wait to see how possible new ownership and management could change the chain. In the meantime, Burke will continue to set his sights on bigger and better gambling options for his company.