Hard Rock Reports Record Results

3 Mar 2005

LAS VEGAS – (PRESS RELEASE) -- Hard Rock Hotel, Inc. ("Hard Rock"), which owns and operates the Hard Rock Hotel & Casino in Las Vegas, Nevada, today reported 4th quarter net revenues increased $3.0 million, or 9%, to a 4th quarter Company record of $35.4 million compared to $32.4 million in the year-earlier three-month period. The Company also announced a 4th quarter record quarterly Adjusted EBITDA(1) of $7.6 million compared to $7.2 million in the comparable prior year period, a $0.4 million, or 5%, increase. Net loss decreased $0.1 million to $0.3 million compared to $0.4 million in the 4th quarter of 2003.

Quarterly net revenues improved primarily due to increases in Lodging and Food and Beverage revenues. Lodging revenues increased primarily due to a $12 increase in average daily rate ("ADR"). Food and Beverage revenue increased primarily from the opening of our new night club called Body English. These increases were partially offset by decreases in Casino revenue. Casino revenue decreased primarily due to the table games hold percentage and drop decreasing while slot coin in decreased due to less high-end play offset partially by an increase in win percentage resulting from changes in machine mix.

Peter Morton, Hard Rock's Chairman of the Board and Chief Executive Officer, commenting on the quarterly results stated, "We are very pleased with what has been another record 4th quarter net revenues and Adjusted EBITDA for our property. We are looking forward to a prosperous 2005 as we continue to fine tune our operations."

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	Hard Rock Reports Record Results 3 Mar 2005 LAS VEGAS – (PRESS RELEASE) -- Hard Rock Hotel, Inc. ("Hard Rock"), which owns and operates the Hard Rock Hotel & Casino in Las Vegas, Nevada, today reported 4th quarter net revenues increased $3.0 million, or 9%, to a 4th quarter Company record of $35.4 million compared to $32.4 million in the year-earlier three-month period. The Company also announced a 4th quarter record quarterly Adjusted EBITDA(1) of $7.6 million compared to $7.2 million in the comparable prior year period, a $0.4 million, or 5%, increase. Net loss decreased $0.1 million to $0.3 million compared to $0.4 million in the 4th quarter of 2003. Quarterly net revenues improved primarily due to increases in Lodging and Food and Beverage revenues. Lodging revenues increased primarily due to a $12 increase in average daily rate ("ADR"). Food and Beverage revenue increased primarily from the opening of our new night club called Body English. These increases were partially offset by decreases in Casino revenue. Casino revenue decreased primarily due to the table games hold percentage and drop decreasing while slot coin in decreased due to less high-end play offset partially by an increase in win percentage resulting from changes in machine mix. Peter Morton, Hard Rock's Chairman of the Board and Chief Executive Officer, commenting on the quarterly results stated, "We are very pleased with what has been another record 4th quarter net revenues and Adjusted EBITDA for our property. We are looking forward to a prosperous 2005 as we continue to fine tune our operations."