Lenders file foreclosure notice against Hard Rock Hotel

[Spock]

If it ever does foreclose, the creditors have already lined up a management team:

http://www.navegantegroup.com/

lead by the former CEO of the MGM to run the place. So it is not likely that it will ever shut down. I also doubt they will ever dramatically change their brand and theme. But different management will result in some changes, bot who knows what they will be.

Either way, this is a long way off.

[smartone618]

I agree with Spock. If the Hard Rock was to close that's a long ways off. I stay at HRH for 2-3 days once a month and you could just sense somthin' the past few months. Once the bad press hits, then all the rumors start flyin'. With the huge expansion investment recently made, it's really hard to imagine things can't be restructured to give the property a fighting chance. The property isn't a dump like the Sahara or others.

I have read though that the debt is incredible and anyone who may consider taking this property over long term will need very deep pockets. Rumor says maybe Peter Morton returns with a "buy-in of 1/8 what he sold it for or mabe Virgin's Richard Branson who'd been rumored to have been looking at Vegas before the bottom dropped out. Hell maybe even the Seigal boys from accross the street? Also, reports are that Harry Morton (Peter's 30 y.o. son) was seen touring the property yesterday. Of course, he owns the Pink Taco and may have just been there for that... or maybe something else?

Both the forclosure sale and the special Gaming Commission meeting to review the situation are now both set for this Tuesday.

[Sir Pearce]

They're not going to just close the doors and kick everyone to the curb, don't worry.

Although that would make for some great stories.

[Sid]

There is so much potential in this property given its history and recent renovation. Very far from being a dump. Who ever takes over will have big plans I'm sure to bring it back strong.

[smartone618]

The latest is here:

http://www.lasvegassun.com/news/2011...ock-hotel-for/

[JIMMY]

This is good news. I love the hardrock !!!!!