Project PARADISE (Auction Cancelled)

Posted: 1/27/2011 Last Updated: 5/19/2011

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Global Gaming & Hospitality LLC ("GGH") has been retained as advisor to NRFC HRH Holdings, LLC (the "Lender") in connection with Lender's non-judicial foreclosure proceedings (the "Foreclosure Proceedings") and related sale (the "Foreclosure Sale" and together with the Foreclosure Proceedings, the "Foreclosure") with respect to: (i) 100% of the ownership interests (the "Equity Interests") in certain entities that are the indirect owner (s) of that hotel, casino and certain related land and improvements commonly known as The Hard Rock Hotel & Casino located at 4455 Paradise Road, Las Vegas, NV 89169 (the "Property"), and (ii) certain other collateral (including certain gaming assets and intellectual property) (the Equity Interests and such other collateral, collectively, the "Collateral").  The Collateral constitutes security for a certain junior mezzanine loan (the "Mezzanine Loan") that (a) is held by Lender and (b) is the subject of the Foreclosure.  The Mezzanine Loan is subordinate to (among other things) a senior mortgage loan and one other mezzanine loan; accordingly, any purchaser of the Collateral will, in effect, acquire the Collateral subject to such senior mortgage loan, such other mezzanine loan and any other matters to which the Mezzanine Loan is subordinate.

Please take notice, the public auction in connection with the Foreclosure (originally scheduled to occur at 4:00 P.M. Eastern Standard Time on Monday February 7, 2011 & subsequently re-scheduled for Tuesday, February 8, 2011) in front of The Supreme Court of the State of New York, County of New York, located at 60 Centre Street, New York, New York 10007 has been cancelled.

If you have any questions or further requests, please contact directly either of the parties listed below. 

 

Michael S. Kim
Managing Partner
michael.kim@gghsp.com

923 Fifth Avenue, Ste 7D
New York, NY 10021-2649
Direct +1 (646) 719-1096
Cell +1 (917) 509-2975
Fax +1 (646) 895-9830

Carlton L. Geer
Managing Partner
carlton.geer@gghsp.com

3243 E. Warm Springs Rd, Ste 121
Las Vegas, NV 89120-3189
Direct +1 (702) 823-1952
Cell +1 (702) 321-7331
Fax +1 (702) 823-1926

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