Tribe buys Hard Rock

MIAMI — For Seminole Indian Tribe Vice Chairman Max Osceola, the tribe's ambitious purchase of the famed Hard Rock Cafe business for $965 million reminds him of another deal in Native American history.

"Our ancestors sold Manhattan for trinkets," Osceola said Thursday. "Today, with the acquisition of the Hard Rock Cafe, we're going to buy Manhattan back one hamburger at a time."

Osceola spoke at a news conference announcing the deal with British company Rank Group PLC for Hard Rock's casinos, restaurants — including one in Salt Lake City — hotels and what is said to be the world's largest collection of rock memorabilia.

The Seminoles said they believe the deal is an American Indian tribe's first purchase of a major international corporation, and called the deal a milestone that shows its growing economic power. Experts called the purchase a bold move that could make the Seminoles an important player in the gambling and hospitality industry by acquiring a well-known international brand.

The Seminoles — the first U.S. tribe to get into the gambling business — already had partnered with Hard Rock in successful hotel, gambling and entertainment complexes in Tampa and Hollywood in tourist-friendly Florida.

"This is a proud moment for the Seminole Tribe of Florida and for all Indian tribes," said Mitchell Cypress, chairman of the elected Tribal Council. "It is also an opportunity for the Seminole Tribe to diversify its business operations and help a very successful company to achieve even greater growth."

The Seminoles, descendants of the Creek people, spent decades fighting their forced removal out of Florida, battling Andrew Jackson and other prominent U.S. generals. President John Tyler ordered the end of military actions against the Seminoles in May 1842, and the tribe never surrendered to the United States. Florida's remaining Seminoles settled in rural areas near Lake Okeechobee and in South Florida.

After selling tax-free tobacco products, the tribe opened a bingo hall in 1979 in Hollywood. The move survived legal challenges from the state over the tribe's right to be in the gambling business, which led to other casinos on reservations in Florida and opened the door for tribal gambling across the nation.

U.S. tribes now have more than $22 billion in annual revenues from gambling, according to government figures.