83°F
weather icon Clear
Las Vegas, NV
Casinos & Gaming

Lenders file foreclosure notice against Hard Rock Hotel

February 1, 2011 - 3:38 pm
 

A group of lenders has filed a notice of foreclosure against the struggling Hard Rock Hotel.

The notice means the lending group, NRFC HRH Holdings LLC, has the option to acquire the hotel-casino or sell its interest in the property to the highest bidder in a public auction scheduled for 1 p.m. PST on Monday.

NFRC HRH Holdings controls a piece of the $1.36 billion loan used to acquire and renovate the Hard Rock Hotel at 4455 Paradise Road. A joint venture including Morgans Hotel Group and DLJ Merchant Banking Partners bought the Hard Rock Hotel in 2007.

Messages left with a Hard Rock spokeswoman were not returned. The Hard Rock Hotel was built in 1995 and completed a $750 million renovation and expansion less than a year ago.

Global Gaming & Hospitality LLC with offices in New York and Las Vegas is advising the lenders in the foreclosing proceedings. The company declined to comment on the foreclosure auction.

MOST READ
1
Plans emerge for Las Vegas’ tallest resort on former waterpark site
Plans emerge for Las Vegas’ tallest resort on former waterpark site
2
Vegas restaurant named top brunch spot in US for 2024
Vegas restaurant named top brunch spot in US for 2024
3
Taylor Swift returns to Las Vegas Strip; album rockets to No. 1
Taylor Swift returns to Las Vegas Strip; album rockets to No. 1
4
What are the Raiders quarterback options in 2025?
What are the Raiders quarterback options in 2025?
5
These Vegas-area casinos still have coin-operated slots
These Vegas-area casinos still have coin-operated slots
THE LATEST
Smoke free slot area is seen at the Plaza hotel and casino, on Thursday, June 8, 2023, in downt ...
Smoke-free casino advocates take fight to shareholders
By McKenna Ross / RJ

Shareholder proposals are pushing Las Vegas casino operators like Caesars Entertainment and Boyd Gaming to study the business impact of smoke-free casinos.