SECAUCUS, NJ-Hard Rock International reports it has inked an equity investment agreement with New Meadowlands Racetrack.

The deal includes its involvement in a themed casino at the track if the state eventually authorizes new gambling at the site, says New Meadowlands Racetrack Chairman Jeff Gural. He adds that if New Jersey were successful in federal court to permit sports betting at casinos and racetracks in the Garden State, Hard Rock would likely manage those operations, according to The Record.

“They are becoming an investor in the existing project,” Gural says of the new grandstand that will open this fall. “They'll also explore the possibility of doing some outdoor concerts. And obviously if the opportunity came up down the road of getting a casino here, we would jointly work to try to get a license. If sports betting is legalized, my guess is that would be something we'd ask them to run for us, assuming they have the expertise. There are a lot of different balls in the air these days.”

Jim Allen, chairman of Orlando, FL-based Hard Rock, states in a press release, “Our company welcomes this opportunity and looks forward to leveraging our brand to potentially expand the region's gaming offerings and sports betting through this alliance. We also believe this investment would sit comfortably alongside potential projects in the future, such as Atlantic City,  in the event we establish a viable long-term entry plan for the market.” See story in The Record.