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Hard Rock Hotel Las Vegas Now a Morgans Hotel

Where: 4455 Paradise Road [map], Las Vegas, nv, United States, 89109

It's official. Ian Schrager's old company--The Morgans Hotel Group--has bought the Hard Rock Las Vegas after a bit of a struggle with some financing issues.

All we have right now is a press release with some money mumbo jumbo but a quote from the Morgans Hotel Group partner, DLJ Merchant Banking Partners, says this:

MHG is a world-class operating partner and we are excited about working with them to transform the Hard Rock into the premier boutique property in Las Vegas. The Hard Rock has enormous potential and we look forward to moving ahead with the many opportunities related to the Hard Rock assets.

Since Vegas casino hotels live or die by their gambling profits, Morgans is going to go after wealthier clientele to up the gambling profits. We said it before and we'll say it again. Kiss those Rehab by the pool parties goodbye.

Related Stories:
· Morgans Hotel Group and DLJ Merchant Banking Partners Complete Acquisition of Hard Rock Hotel & Casino [Business Wire]
· Hard Rock Prices to Go Up, Pool Scene to Go Down [HotelChatter]