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| Adriana Blanco Maurisset |
MIAMI, FL —Feb. 16, 2016
-- Tenzer PLLC Member Ari M. Tenzer
and Associate Adriana Blanco Maurisset
have completed the successful negotiation of a hotel license and casino
management agreement on behalf of the owner of the planned Hard Rock Hotel
& Casino Santo Domingo in the Dominican Republic.
Construction of the
400-room hotel and state-of-the-art casino commenced with a February 9
groundbreaking ceremony attended by Dominican Republic President Danilo Medina.
Tenzer and Blanco
Maurisset, who have extensive experience advising domestic and international
clients in hospitality industry transactions, were the only outside counsel
involved in the entire deal.
The Miami-based law firm has represented the Hard
Rock Hotel & Casino Santo Domingo owner, a Cancun-based group with a vast
portfolio of Hard Rock-branded hotel properties, in negotiating agreements for
nearly all of its Hard Rock hotels in Latin America and the Caribbean.
Hard Rock Hotel &
Casino Santo Domingo is the ownership group’s second property in the Dominican
Republic. The group also developed and operates the 1,800-room Hard Rock Hotel
& Casino Punta Cana, one of the largest hotel and casino properties in the
Caribbean. Tenzer also represented the group in negotiating and closing a license
and casino management agreement for the Punta Cana property in 2009.
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| Ari Tenzer |
“The Dominican Republic is unquestionably a very hot market for hospitality and gaming,” Tenzer said. “The ambitious Hard Rock Hotel & Casino Santo Domingo project underscores our client’s confidence in the market.
" Big international hotel brands are
increasingly attracted to the nation as travelers realize Las Vegas and the
Bahamas aren’t the only appealing options for upscale, non-cruise ship casinos
with all of the popular gaming options.”
To complete the Santo
Domingo deal, Tenzer and Blanco Maurisset negotiated five separate agreements,
including the main hotel and casino agreements and three ancillary agreements
for reservations, sales services and memorabilia.
They coordinated with local
representatives regarding compliance with regulatory requirements and entity
formation, and negotiated protections against regulatory changes in the
Dominican Republic that may affect the owner’s gaming license.
They also
ensured the hotel and casino agreements worked together while still separating
the rights and obligations of the parties under each agreement.
Additionally, the land
acquisition for the project required special attention given the desire was to
get the deal papered with Hard Rock as quickly as possible, independent of the
timing for the real estate closing; it’s a process that is both longer and more
complex in civil law jurisdictions like the Dominican Republic than common law
jurisdictions like the U.S.
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| Dominican Republic President Danilo Medina |
“These kinds of deals are
extremely sophisticated, especially when you have two different animals – the
hotel and casino – as part of the deal,” Tenzer said. “It is paramount to
carefully put the appropriate checks and balances in place to insulate our
clients to the fullest extent possible.”
Scheduled for a late 2017
opening, the Hard Rock Hotel & Casino Santo Domingo will include 400 hotel
rooms and suites and a 23,000-square-foot casino. It will also feature a
screening room and nightclub that opens up to the main pool, along with 33,000
square feet of meeting space.
For a complete copy of the company’s news release,
please contact:
BoardroomPR
Eric Kalis, ekalis@boardroompr.com
Ashley Fierman, afierman@boardroompr.com
(954) 370-8999
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