AP- The Hard Rock Hotel and Casino has been sold.

Peter Morton, chairman and founder of the property, says he sold the
property to Morgans Hotel Group for 770 (M) million dollars in cash.

The sale of the 647-room hotel and 30-thousand square foot casino
will net Morton more than 731 (M) million dollars.

Morton tells The Associated Press that it was just time to take the
chips off the table and do some different things in his life.

Morton co-founded the Hard Rock brand in 1971 and in 1996 he sold his
chain of Hard Rock Cafes to the London-based Rank Group for 410 (M)
million dollars.

He opened the Hard Rock in Las Vegas in 1995.

The Morgans Hotel Group is an owner and manager of luxury boutique
hotels that went public in February.

It runs the Hudson, Morgans and Royalton in New York and the Delano
in Miami, among other properties.