The Hard Rock Rocksino Northfield Park, the US state of Ohio’s busiest slot machine racino, has been purchased by MGM Growth Properties.
The property sold for $1.02bn but will continue to operate under the Hard Rock Rocksino name. MGM Growth Properties of Las Vegas said in a news release late last week that it has now completed the purchase first announced in April.
“We are excited about the addition of the market leading Hard Rock Rocksino to our portfolio,” CEO James Stewart said. Stewart also said a deal was reached for Hard Rock to continue to serve as the manager.
The Hard Rock Rocksino, which opened in December 2013, is the largest of the seven racino slot operations in the state regulated by the Ohio Lottery Commission. Slot machine revenue in the last year, after paying out winnings, totalled $246.5m, a fourth of the total statewide.
Ohio’s racinos at race tracks, unlike stand-alone casinos, are not permitted to offer table games or poker video games. The 110-acre complex just south of the Cuyahoga-Summit county border has 2,300 slot machines, multiple restaurants, a concert venue and harness track.
