Hard Rock acquisition is Seminole tribe's latest triumph

0 Comments | USA TODAY, December, 2006 | by Kevin McCoy

Little more than a generation ago, the Seminole tribe of Florida lived a precarious life of poverty in the swamplands of the Sunshine State. Today, the 3,300-member tribe that pioneered the Indian gaming industry operates a thriving casino enterprise that one consultant estimates will generate as much as $900 million in 2006 earnings before interest and expenses.

Thursday's announcement of the tribe's $965 million deal to acquire the Hard Rock Cafe restaurant and casino chain stands to generate new, international earning potential for the Seminoles, even as they cope with new gaming competition, and legal and tax challenges. "It's been a phenomenally successful operation," said Joseph Weinert, vice president of Spectrum Gaming Group, a New Jersey-based gaming consultant who...

Premium Content Partnership | MyWire provides an in-depth online archive library of reference works. MyWire

 

BNET TalkbackShare your ideas and expertise on this topic

Please add your comment:

  1. You are currently: a Guest |
  2.  

Basic HTML tags that work in comments are: bold (<b></b>), italic (<i></i>), underline (<u></u>), and hyperlink (<a href></a)