The Hard Rock Hotel and Casino in Las Vegas received a notice of foreclosure today by its lenders. That’s the bad news. What’s bad news for some can be opportunity for others.
The notice said prospective buyers have the opportunity to bid at a public auction for the lenders’ interest in the property. The auction is scheduled for 1 p.m. Las Vegas time Monday in front of the Supreme Court of the State of New York at 60 Centre Street in Manhattan.
So, will an outsider step up to the plate and buy the newly remodeled Hard Rock or will the lenders decide to hold onto their debt and keep the casino afloat so they can make money down the line when the economy improves? I’m expecting the latter. However, if you’re not cheap you can get in the game!