Tulsa, Oklahoma Getting Hard Rock Casino Form Cherokee Nation
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Tulsa, Oklahoma will soon get to experience the joy of walking through a Hard Rock branded hotel and casino. That is thanks to an agreement between Hard Rock Hotel Holdings and the Cherokee Nation.
The Cherokee Nation must have the deal approved by the National Indian Gaming Commission. Once they clear the way for the Hard Rock brand, the 19 story hotel and the casino it is attached to will be decorated in the Hard Rock brand.
The hotel and casino are in the process of being built and they are almost complete. Although Hard Rock will be the brand, an ownership change did not take place and the Cherokee Nation will still run the casino and hotel.
“The Hard Rock Brand is one that is known all over the United States and the world. It is nice that Tulsa residents will now get to experience what people in other states have experienced for years,” said Hank Hydlum, a longtime resident of Tulsa.
The Hard Rock Hotel and Casino will be unique in that it will contain memorabilia and decor straight out of the Hard Rock brand, but it will also include influences from Oklahoma’s musical history and the Cherokee Nation heritage.
Trump Angling Towards Grace Period For Casino Interest Payment
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Donald Trump is one of the most successful businessmen in the world. That does not mean, however, that his companies are immune to the financial problems that the United States is currently experiencing.
Trump Entertainment Resorts Inc. announced on Friday that they will be taking advantage of a thirty day grace period for a $53.1 million bond interest payment. The payment is due on December 1st, but will not be made on time.
The company claims they are delaying the payment to ensure that they “maintain sufficient liquidity” in these difficult times. The liquidity is necessary at a time when many companies are starting to close the doors on their businesses.
Trump will have thirty days after December 1st to try and negotiate a deal with the lenders. They have said that their goal is to renegotiate the terms of the original agreement. There is no guarantee that an agreement will be reached.
In the past year shares of Trump Entertainment have dropped from $5.70 to $.31. The company is hoping, much like others in the casino industry, that a change in administrations that is coming in January will help revive the economy in the United States.
“Trump Entertainment needs the casino industry to turn around quickly or they could be facing the same fate that has already doomed several smaller companies,” said Mario Blumbuergo.