M&A

  • Along with VICI Properties Inc. (VICI), Hard Rock International is expanding its global gaming portfolio, announcing the completion of the JACK Cincinnati Casino transaction. Through the joint purchase, Hard Rock has acquired the operating assets of the casino, while VICI owns the land and real estate assets.

     

    “We look forward to offering our world-class experience to guests in the region, building upon our success in the greater Cleveland area,” said Jim Allen, chairman and CEO of Hard Rock International. “On behalf of more than 45,000 employees worldwide, we welcome over 1,000 former JACK employees into our Hard Rock family.”

    While the casino will continue to operate under the current branding, Hard Rock Casino Cincinnati will rebrand and open in spring 2020. The property is situated on 22 acres in the Broadway Commons area of downtown Cincinnati and features 100,000 square feet of gaming space with approximately 1,800 gaming machines and 100 table games. Additionally, the property contains 33,000 square feet of meeting space, six high-quality restaurants and two bars. New property improvements will be announced by Hard Rock at a later date.

     

    “We are proud to partner with Hard Rock, further diversifying our tenant roster with an international leader in gaming, entertainment and hospitality

    experiences and a renowned global platform of 259 hospitality venues across 75 countries,” said John Payne, president and chief operating officer of VICI Properties.


  • Dana Incorporated (NYSE: DAN) announced today that it has completed the acquisition of Nordresa Motors, Inc., which is a prominent integration and application engineering expert for the development and commercialization of electric powertrains for commercial vehicles.  Terms of the transaction were not disclosed.

     

    The investment further enhances Dana’s electrification capabilities by combining its complete portfolio of motors, inverters, chargers, gearboxes, and thermal-management products with Nordresa’s proprietary battery-management system, electric powertrain controls and integration expertise to deliver complete electric powertrain systems.