Hard Rock sold to Seminole tribe

Posted Friday, December 8, 2006 9:25 AM | Contributed by Brotherbehr

Britain's Rank Group said on Thursday it had agreed to sell its Hard Rock cafe and casino business to the Florida Seminoles for $965 million. Rank said the disposal would turn it into a pure gaming group, focusing on UK casino liberalization coming next year. Following the sale it intends to return $688 million to shareholders by way of a special dividend, equivalent to 65 pence a share.

Read more from Reuters via CNN.

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