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LAS VEGAS-The $770-million sale of the assets of Hard Rock HotelInc. closed this week. New York City-based Morgans Hotel Groupagreed in May to acquire the 647-room Hard Rock Hotel & Casinohere and a neighboring 544-unit apartment complex from Hard Rockfounder Peter Morton. MHG took on DLJ Merchant Banking Partners asa partner in the deal in November.

Per the agreement, DLJMB and affiliates will invest up to $250million in the joint venture, Hard Rock Holdings, which will own,manage, renovate and develop the various operating assets, land andintellectual property assets of Hard Rock. The acquisition includesthe rights to use the "Hard Rock Hotel" and "Hard Rock Casino"trademarks in connection with casinos and hotel/casinos inspecified locations, as well as certain other intellectual propertysuch as merchandising and retail rights.