After nearly two months of speculation and rumors the Hard Rock Hotel has finally been sold. The Eye on Vegas has learned that minutes ago Hard Rock honcho Peter Morton has accepted a $770 million offer to sell the property and its adjacent acreage to the Morgans Hotel Group, operators of high-end boutique hotels such as the Delano and Shore Club in Miami, the Hudson in New York City and the Mondrian in Los Angeles. It is interesting because the Morgans name was never really one of the rumored front-runners for the property, that honor instead went to The Rank Group, operators of the Hard Rock Hotel chain of which the Las Vegas property is not included, and the Fertittas just because, well they’re the Fertittas!

Peter Morton made the announcement at an Employee of the Month luncheon at AJ’s Steakhouse earlier this afternoon to a room of employees who had a feeling something was coming. “The directors came to all of the offices and told everyone,” reported a source within the property who asked to remain anonymous. “Everyone thinks it will be a good match because of their image and philosophy. We will be their biggest property so everyone is excited to be a part of such an amazing company and especially because we will be their flagship property!”

There are some sticking points before this deal is fully done, the largest being that Morgans must first obtain a gaming license before the takeover can become official. However, the path to a gaming license has become much easier since Morgans Hotel Group C.E.O. and Chairman Ian Schrager stepped down to accept a consultant role last year, perhaps foreshadowing for a move into the gaming sector of the business. Schrager is unable to hold a gaming license because he still has criminal charges on his record reaching back years to his time as a co-owner of the legendary big apple nightclub, Studio 54.

Representatives from the Hard Rock Hotel including President Kevin Kelly would not comment. Any official release confirming the sale is expected tomorrow morning.

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