Peter Morton to Develop and Operate $300 Million Hard Rock Hotel-Casino in Northern San Diego County for the Pauma Band of Mission Indians

LAS VEGAS, Feb. 3 /PRNewswire/ — Peter Morton’s Hard Rock Hotel & Casino announced today that it has been selected by the Pauma Band of Mission Indians to be the developer and operator of a new $300 million hotel and casino in northern San Diego County.

“We are excited about working with the Pauma Band to produce one of the great resorts in California,” said Peter Morton, chairman and founder of Hard Rock Hotel & Casino. Tribal Chairman Chris Devers said, “the tribe voted overwhelmingly for the Hard Rock and is ecstatic with its new relationship.”

“It is envisioned that the hotel and casino will have 300 hotel rooms, 100 gaming tables, 2,000 slot machines, a concert venue, restaurants, and spa,” added Hard Rock President Kevin Kelley.

Peter Morton announced last year that he had acquired 24 acres next door to the Las Vegas Hard Rock Hotel & Casino where he plans to build 1,200 hotel condos, residences, and bungalows as part of a $1 billion condominium and entertainment development.

The Hard Rock proposal was chosen for the Pauma gaming venture project from among several competing bidders, including Foxwoods Resort Casino.

Construction is expected to begin as soon as the management contract is approved by the National Indian Gaming Commission in Washington D.C., a process which typically takes six to nine months. “We plan to open by the fourth quarter of 2006,” said Mr. Morton.

The press release contains certain forward-looking statements, which Hard Rock is making in reliance on the safe harbor provisions of the Private Securities Litigation Act of 1995. Investors are cautioned that all forward-looking statements are subject to significant risks and uncertainties. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance, or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Additional information concerning risk factors that could cause actual results or events to differ materially from those projected in the forward-looking statements are contained in the Hard Rock’s filings with the Securities and Exchange Commission.

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