Hard Rock Caf Building Casinos in Tampa and Hollywood Florida

(Bloomberg) -- Hard Rock Caf International Inc., known for its music-themed restaurants, said it is developing two Florida casinos at a cost of $400 million with the Cordish Co. and the Seminole Tribe of American Indians.

Hard Rock and Cordish are building the casinos in Tampa and Hollywood, Florida on two Seminole reservations. Orlando, Florida- based Hard Rock will run the Hard Rock restaurants and shops, while the tribe will operate the casinos, Hard Rock said.

Hard Rock, which runs 105 restaurants that feature music memorabilia and live performances, is redesigning some of the restaurants and expanding into real estate, casinos and hotels. The company will open a 650-room hotel in Orlando this month and is building another in Pattaya, Thailand.

Baltimore-based Cordish, a development company, and the Seminoles are close to securing financing for the casinos, Hard Rock Chief Financial Officer Scott Little said. The casinos will replace those that the tribe runs in Hollywood and Tampa now.

Hard Rock already licenses a Hard Rock casino in Las Vegas, which is run by company founder Peter Morton. The company is a unit of London-based Rank International Plc, which also runs Grosvenor Casinos in Europe.

The Hollywood casino, which will cost $300 million to develop, will have 750 hotel rooms, a Hard Rock Caf and a 1,000- seat concert venue. The Tampa casino will include 200 hotel rooms, casino, and 24-hour restaurant and cost $100 million to build.

Both casinos will be built by end of 2002, Hard Rock said.