New $300m Hard Rock Hotel-Casino

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.
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