Murren added, “We are pleased to welcome the Hard Rock Rocksino and more than 700 employees to the MGM Resorts family and look forward to working with them during this transition.

We anticipate revenue and profit growth from this combination.” MGM CEO and Chairman James Murren commented, “We believe the Rocksino is a great fit for the MGM portfolio and will benefit from our capabilities as a leading global entertainment company and our award-winning M life Rewards Program. The Rocksino quickly-and somewhat surprisingly-became the market leader in the Ohio gaming market despite the fact that it offers only VLTs and no table games. MGP had been negotiating with Hard Rock International to retain the operations and many thought the property would remain under the control of Hard Rock. MGM will pay $60 million annual rent to MGP.ĭuring the last month the Rocksino reported $293 million in net revenues and it has led the Ohio market for 35 of the last 39 months.ĭespite the obvious link between MGM and MGP, the sale was a surprise to some. MGP bought the property in July for $1.02 billion. MGM Resorts owns 70 percent of MGM Growth Properties. The casino will be added to an existing lease between MGM Resorts and its REIT MGM Growth Properties (MGP). MGM purchased the operations for $275 million with escrow expected to close in the second quarter of 2019. The racino, which has 700 employees, is located 17 miles from Cleveland.

MGM Resorts has acquired the operations of the Hard Rock Rocksino Northfield Park, opening the Ohio market to one of the fastest growing casino developers in the country.

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