Late last week, Codere and Hard Rock signed an agreement that involves land in Mexico. Codere is granting land to Hard Rock for a tourist complex to be built valued at around $1 billion. In return, Codere will be provided 40% of the holding company due to the land contribution, while the casino giant will maintain a 60% holding and be in charge of locating funding.
Potential Guitar-Shaped Hotel:
The Hard Rock brand is one of the most recognizable in the world, with their venues featuring rock ‘n’ roll memorabilia as well as guitar shaped items, including hotels. Reportedly, this land could be used by the brand to create their second guitar-shaped hotel.
The complex in Mexico City will have 48 floors and will include a betting space that will be operated by Codere. Licensing has been provided for 44 floors of the project.
According to a recent press release…
If the deal moves forward, this will be the second hotel created by Hard Rock that is shaped like a guitar. By October, the Seminole Hard Rock Hotel & Casino Hollywood will debut, the home of the first-ever guitar shaped hotel. The hotel is part of a $1.5 billion expansion of the Hollywood property.
The hotel will be 450 feet tall and include 638 luxury guest rooms and suites. The property is expected to open on the 24th of October.
Codere will be operating sports betting in the new property in Mexico City and has recently signed additional deals involving sports betting operations. Back in June, the company announced a deal with Sports Information Services (SIS) Limited.
The deal will involve venues of Codere in Mexico and Spain. It will be using SIS’s around the clock live online betting channel.