Ilkim Hincer Executive Vice President & Chief Legal Officer Hard Rock International
“"Powered by the
success of the Tribe’s properties in Florida, Hard Rock has been able to expand that strength into big successes on the casino side. There are now more Hard Rock branded casinos in
North America than ever before, and that number will continue to grow across the globe. “
Whilst the global empire represents Ilkim's "proper" job, he was also recently re-elected for another term as Board Chair of the Canadian Gaming Association. Troughout our interview, he switches between the two hats.
GUITAR-SHAPED HOTEL
In case you missed it, Hard Rock plans to build an iconic Guitar- shaped hotel on the Las Vegas Strip after paying $1.075bn in cash for the operating assets of Te Mirage Hotel and Casino. Under the terms of the agreement, MGM Resorts will retain Te Mirage name and brand, licensing it to Hard Rock royalty- free for a maximum period of three years while it finalises its plans to rebrand the property.
"It makes a tonne of sense to plant a flag on the Strip. Te Mirage certainly isn't the only location on the Strip Hard Rock has considered over the years. Te Mirage was the right opportunity at the right time in the right location. Te physical geography of where Te Mirage is - on the 50-yard line of the Strip - is such a great location for an iconic guitar-shaped hotel with a fantastic view from the north and south."
"We believe Te Mirage acquisition will be iconic for many reasons; just as we do for any development opportunity, we looked at whether it made sense under the long-term vision for the business and for the Tribe. We've said no to many iconic locations. Now with Te Mirage we have the perfect spot in Las Vegas that will bring long term benefit to Hard Rock's enterprise value and the entire portfolio."
Hard Rock plans to release details of the rebranded and reimagined resort, its new features and development timeline at the end of the year.
ONTARIO
Ontario is an interesting beast – while Canadians have been able to play many online gaming offerings for some time, there has never been a private licensing model. Ontario’s
WIRE / PULSE / INSIGHT / REPORTS P59
Prior to 2020, Hard Rock International had no previous operational involvement with the Hard Rock Hotel & Casino in Las Vegas. Hard Rock purchased the licensing and naming rights for Clark County back in May 2020 and vowed to bring the iconic brand to the Las Vegas Strip when the right opportunity presented itself.
Hard Rock's acquisition by the Seminole Tribe of Florida - who invest responsibly based on long term sustainability - has been pivotal in the brand's continued success over the last 16 years. Te tribe do not view short-term success as the driver of success.
"Unlike others who may look at things differently, Hard Rock has benefitted tremendously from having a long-term approach to building value, sustainability, generational wealth and success. Te business may be known in many circles as a restaurant brand or a memorabilia brand because of the rock & roll connection but it's also a live entertainment brand, hospitality brand, gaming, and merchandise brand – it’s gratifying and exciting to see at every airport Hard Rock t-shirts from every corner of the world.
"Powered by the success of the Tribe’s properties in Florida, Hard Rock has been able to expand that strength into big successes on the casino side. Tere are now more Hard Rock branded casinos in North America than ever before, and that number will continue to grow across the globe. Our leadership consider opportunities with a long-term perspective and are fastidious when looking at new locations or jurisdictions.
new model that launched in April of 2022, is aimed at channelling the unregulated market participants into the new reality.
Hard Rock hasn't yet launched in Ontario's online market, but it will, through its Hard Rock Digital joint venture. Like other operators, the brand already has invested heavily on a land-based presence in the province. For Ilkim, this convergence is very interesting.
"We are of course in the entertainment industry. Te touchpoint with our consumers is critical. Success is going to be greatly impacted by the ability to provide our guests with seamless experiences across multiple touchpoints.
"Te ability to have a brand that's not just connected to the digital experience, but also land-based offerings be it casino, hospitality, restaurants is incredibly powerful. Other operators are trying to tap into that. Te ability to be hyper localised whilst leveraging the synergies from an existing mature presence is critical.
"Hard Rock has already made tremendous commitments to Ontario - as have other land-based operators over the years. Tat represents not only generating significant revenue for the Ontario Lottery & Gaming Corporation, but
“It makes a tonne of sense to plant a flag on the Strip. The
Mirage certainly isn't the only location on the Strip Hard Rock has considered over the years. The Mirage was the right opportunity at the
right time in the right location. The physical geography of where The Mirage is - on the 50-yard line of the Strip - is such a great location for an iconic guitar-shaped hotel with a fantastic view from the north and south."
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