The MGM Growth Properties purchase earlier this year of the Hard Rock Rocksino location in Northfield Park, Ohio, US, has seen the property transfer this week to MGM Resorts.
Resorts will pay Properties $275m for the Rocksino and the location will be added to the master lease between Resorts and Properties and the annual rent will be increased by $60m.
The 700-employee Rocksino opened in 2013 and has become a leading gaming location in the state, positioned close to Cleveland and Akron, two major cities.
In the past year the Rocksino reported $293m in net revenues and has led the state’s gaming market in GGR for 35 of the last 39 months. The venue has 200,000sq.ft of gaming with 2,300 VLTs and F&B outlets, plus entertainment venues and a horse racetrack.
