$250 million deal to buy Hard Rock moves forward

BILOXI, MS (WLOX) - Hard Rock Hotel and Casino in Biloxi could soon be under new ownership. A $250 million offer to purchase Hard Rock is on the table.

Twin River Worldwide Holdings in Rhode Island owns Twin River Casino in Lincoln, Rhode Island and they are excited about the Mississippi gaming industry, the Biloxi market, and the Hard Rock brand.

"At Twin River, we see a stable market in Mississippi," said Twin River Spokesperson Patti Doyle. "In particular, we see this property as having a terrific location, an iconic brand name and a property that is well run. We're excited."

Hard Rock General Manager Duncan McKenzie is impressed with Twin River. If the sale goes through, he doesn't expect the company to come in and make wholesale changes.

"I don't think workers have anything to worry about. Twin River loves this property and they love the performance of the property. I think they want to continue operating similarly," McKenzie told us.

Twin River found existing amenities attractive. A 325 room hotel, a new 154 hotel tower under construction and expected to be completed by February of 2014, and solid management.

"It has great potential. It's already vibrant. We like the location, employees and its management. It has terrific restaurants. We can only see this property getting better and better over time," Doyle said.

The Mississippi Gaming Commission must approve the sale. If regulators sign off on the arrangement, the sale could close as soon as June of 2014.

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