It was announced on Wednesday, April 24 that Hard Rock International has entered into a long-term agreement with New Meadowlands Racetrack LLC.
According to a Hard Rock press release --- the contents of which appear below --- as part of the agreement, Hard Rock will make an equity investment in New Meadowlands Racetrack LLC, which extends to any projected future developments at the racetrack.
Hard Rock International Enters Into Agreement With New Meadowlands Racetrack
Hard Rock International - owner of one of the world's most recognized and iconic brands - announces today it has entered into a long-term agreement with New Meadowlands Racetrack LLC. As part of this agreement, Hard Rock will make an equity investment in New Meadowlands Racetrack LLC, which extends to any projected future developments at the racetrack.
"Hard Rock International has a long standing relationship and strong fan base in the state of New Jersey and we will continue to strengthen our presence through this collaboration with New Meadowlands Racetrack LLC," said Jim Allen, chairman of Hard Rock International. "Our company welcomes this opportunity and looks forward to leveraging our brand to potentially expand the region's gaming offerings and sports betting through this alliance. We also believe this investment would sit comfortably alongside potential projects in the future, such as Atlantic City, in the event we establish a viable long-term entry plan for the market."
"Hard Rock International is a perfect partner for New Meadowlands Racetrack," said Jeff Gural, chairman of New Meadowlands Racetrack LLC. "We are certain the company, through its history, experience and expertise in gaming, hotels, restaurants, live events, entertainment and retail offerings, will bring added synergies and innovation to New Meadowlands Racetrack."
Hard Rock International currently acts in a variety of capacities across the portfolio of casino properties with roles including property management, joint venture partner, licensor and franchise partner. The newest addition to the portfolio, a Hard Rock branded and managed property, is Hard Rock Northfield Park, which recently broke ground at the Northfield Park Racetrack in Northfield, Ohio.