Hard Rock International Announces Strategic Alliance With Caribbean CAGE LLC, A Majority Owned RLJ Company

Hard Rock International Announces Strategic Alliance With Caribbean CAGE LLC, A Majority Owned RLJ Company

PLANS FOR HARD ROCK CASINO AT AQUEDUCT RACETRACK UNVEILED

NEW YORK, July 29 /PRNewswire/ -- Hard Rock International today announced a strategic alliance with Caribbean CAGE LLC, a majority owned RLJ company, and its majority owner, entrepreneur Robert L. Johnson, and indicated that Caribbean CAGE LLC will become an investor in the Hard Rock Casino at Aqueduct Racetrack project being proposed by New York-based SL Green Realty Corp. and Hard Rock.

The proposed SL Green/Hard Rock project, under review by the State of New York, is expected to generate more than $525 million in revenue to New York State annually. It includes a Hard Rock-branded casino featuring more than 4,500 Video Lottery Terminals (VLT), a Hard Rock Live performance center, a Hard Rock Bar, iconic music memorabilia from Hard Rock International's unmatched collection, a VIP players club, retail shops, a 425-seat fresh harvest restaurant and a marketplace-style food court.

"We are thrilled to be working with Caribbean CAGE LLC and Bob Johnson," said Jim Allen, Chairman, Hard Rock International. "Bob Johnson is a true global pioneer in media, music and entertainment, and we are ecstatic that Caribbean CAGE LLC will be an equity investor in the Hard Rock Casino Aqueduct development."

Considered one of the country's most successful business leaders, Johnson is currently Chairman and Founder of RLJ Companies and majority owner of the Charlotte Bobcats of the NBA. Previously, Johnson was the Founder, Chairman and CEO of Black Entertainment Television (BET).

"This is a great opportunity to partner with Hard Rock - one of the world's most recognized brands. My background in entertainment, marketing and media makes this a perfect match," said Bob Johnson. "After working with Hard Rock for almost a year, I am very excited that Caribbean CAGE will be joining Hard Rock International and SL Green in the Aqueduct development. This is the first of what I hope to be many future projects with Hard Rock International."

Robert B. Washington, Co-Founder, Chairman and CEO of Caribbean CAGE LLC added, "We, at CAGE, are delighted to join this great team in creating a world-class project - the Hard Rock Casino at Aqueduct Racetrack."

SL Green CEO Marc Holliday added, "Working with our partners, we are planning a state-of-the-art gaming facility with additional attractions that will make it one of New York City's most popular destinations when fully completed. First of all - Hard Rock is the world's premier name in gaming and entertainment-oriented hospitality, and its brand strength and expertise will help maximize ongoing revenue to the State. In terms of getting this well-capitalized project done in the timeliest way, SL Green is best able to do so. We can draw upon years of experience in development and redevelopment in New York City, and we can break ground immediately because our plans have been formulated to conform to existing regulatory approvals. In addition, we have the expressed support of the various unions. Overall, there is a real excitement in the community and the city at large for our plan and there is no question that it is far superior to other bids that the State is considering. We look forward to making this happen."

As part of the SL Green/Hard Rock proposal, more than 2,000 Video Lottery Terminals are expected to be open by April 2010 and an additional 2,500 terminals would be open by 2011. Additional plans include a Hard Rock Hotel, shops, dining and an entertainment center.

In addition to Bob Johnson and Caribbean CAGE LLC, Hard Rock and SL Green's bid also includes Jeff Gural, CEO of New York-based Newmark Knight Frank and American Racing Entertainment and owner of Tioga Downs and Vernon Downs in Upstate New York and Daniel R. Tishman, Chairman and CEO of New York-based Tishman Construction.

Hard Rock recently opened a world-class Hotel and Casino facility in Macau, as part of the City of Dreams project, and last month announced plans for a Hard Rock Hotel and Casino in Hungary. Hard Rock's other hotel and casino properties include Hard Rock Hotel and Casino Las Vegas; Seminole Hard Rock Hotel and Casino Hollywood (Florida); Seminole Hard Rock Hotel and Casino Tampa (Florida); and Hard Rock Hotel and Casino Biloxi (Mississippi); as well as branded hotels in Orlando (Florida); Chicago (Illinois); San Diego (California); Pattaya and Bali. Additional hotel and casino projects have been announced in Penang/Malaysia, scheduled to open in 2009; Singapore scheduled to open in 2010; Atlanta and Panama, scheduled to open in 2011; Dubai and Abu Dhabi, scheduled to open in 2012.

About Hard Rock International

With a total of 153 venues in 52 countries, including 127 cafes and 10 Hotels/Casinos, Hard Rock International is one of the world's most globally recognized brands. Beginning with an Eric Clapton guitar, Hard Rock owns the world's greatest collection of music memorabilia, which is displayed at its locations around the globe. Hard Rock is also known for its collectible fashion and music-related merchandise, Hard Rock Live performance venues and an award-winning website. In addition to the two flagship Seminole Hard Rock Hotels and Casinos in Tampa and Hollywood, Fla., Hard Rock Hotels/Casinos are located in Las Vegas, Biloxi, Orlando, Chicago, San Diego, Pattaya, Bali and Macau. Additional hotel and casino projects have been announced in Penang, scheduled to open in 2009; Singapore in 2010; Palm Springs, Atlanta and Panama, scheduled to open in 2011; Hungary, Dubai and Abu Dhabi, scheduled to open in 2012. Hard Rock International is owned by Seminole Hard Rock Entertainment, Inc. For further details on Hard Rock Hotels and Casinos, visit www.hardrockhotels.com. For more information on Hard Rock International, visit www.hardrock.com.

About SL Green Realty Corp.

SL Green Realty Corp. is a self-administered and self-managed real estate investment trust, or REIT, that predominantly acquires, owns, repositions and manages Manhattan office properties. The Company is the only publicly held REIT that specializes in this niche. As of June 30, 2009, the Company owned interests in 29 New York City office properties totaling approximately 23,211,200 square feet, making it New York's largest office landlord. In addition, at March 31, 2009, SL Green held investment interests in, among other things, eight retail properties encompassing approximately 400,212 square feet, three development properties encompassing approximately 399,800 square feet and two land interests, along with ownership interests in 32 suburban assets totaling 6,949,700 square feet in Brooklyn, Queens, Long Island, Westchester County, Connecticut and New Jersey.

About The RLJ Companies:

The RLJ Companies, founded by Robert L. Johnson, owner of the NBA Charlotte Bobcats and founder of Black Entertainment Television, is a diverse portfolio of companies in the financial services, asset management, real estate, hospitality, professional sports, film production, and gaming industries. An innovative business network, The RLJ Companies seeks to target undiscovered or underserved markets; then exercise solid management to achieve results. The RLJ Companies is headquartered in Bethesda, Maryland, with operations in Charlotte, Los Angeles, Florida, Puerto Rico, and Monrovia, Liberia.

About Caribbean CAGE LLC:

Caribbean CAGE LLC is a gaming company focused primarily on the installation, operation and management of video lottery games and terminals, linked gaming systems and game content throughout the Caribbean and Latin America. Caribbean CAGE LLC was co-founded by Robert L. Johnson and Robert B. Washington in 2004 for the purpose of bringing superior VLT games, systems and exciting, new game content to targeted Latin America and Caribbean countries with the goal of enhancing local economies and creating local entrepreneurial and employment opportunities. Caribbean CAGE LLC is headquartered in St. Thomas, US Virgin Islands with offices and operations in Barbados, the Dominican Republic, St. Kitts and Nevis, Puerto Rico and Cyprus.

   Contacts:   Hard Rock International   Michelle Messina   407.445.7740   Michelle_Messina@hardrock.com    Coyne Public Relations   John Gogarty   973.316.1665   JGogarty@CoynePR.com    The RLJ Companies   Traci Otey Blunt   240.744.7858   press@rljcompanies.com    Rubenstein Communications   Rick Matthews   212.843.8267   rmatthews@rubenstein.com  

First Call Analyst:
FCMN Contact:

Source: Hard Rock International

CONTACT: Hard Rock International, Michelle Messina, +1-407-445-7740,
Michelle_Messina@hardrock.com; or Coyne Public Relations, John Gogarty,
+1-973-316-1665, JGogarty@CoynePR.com; or The RLJ Companies, Traci Otey Blunt,
+1-240-744-7858, press@rljcompanies.com; or Rubenstein Communications, Rick
Matthews, +1-212-843-8267, rmatthews@rubenstein.com

Web Site: http://www.hardrock.com/

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Profile: International Entertainment