Branson and some of his partners are now the new proud owners of Las Vegas’ Hard Rock Hotel and Casino.

Richard Branson Buys Las Vegas’ Hard Rock Casino and Hotel

Richard Branson, one of the world’s most flamboyant businessmen is venturing into the casino business. As stated in an official announcement last Friday, Branson and some of his partners are now the new proud owners of Las Vegas’ Hard Rock Hotel and Casino.

Branson’s partners include Los Angeles-based investment firm Juniper Capital Partners, Toronto real estate group Fengate Capital Management as well as Bosworth Hospitality Partners founder Richard Bosworth. Bosworth will be taking over as the new Chief Executive Officer of the casino.

While the amount that the businessmen parted with is yet to be disclosed, they were rather open about the future of the casino. Also, the announcement has attracted a lot of attention not just because of the people involved but also of the rather odd way that it was made.

Rather than doing it the usual way by having the partners calmly make the development public, they resorted to announcing the change in ownership in an unorthodox, but fun manner.  A DJ sent out some thunderous beats as female dancers in swimsuits gyrated in pool platforms as Branson took to the stage. This is quite a scene, even for Vegas.

“Virgin is all about fun, entertainment, not taking ourselves too seriously,” Branson said. “Virgin Atlantic has had a lot of fun flying tons of people to Las Vegas from Britain for many years. Virgin America has done the same, and we wouldn’t have just come to Las Vegas unless we could’ve found the property that was very Virgin, and I think that’s what we’ve achieved.”

Branson and Bosworth pointed out that their ownership group is prepared to invest “hundreds of millions of dollars” into transforming the property. This planned changeover will include the property’s name and will see it rebranded as a Virgin property. The iconic Hard Rock guitar may also not survive the planned property changeover. Fortunately, the 23-year old casino-hotel will continue operating during these renovations which are going to be done in a number of phases.

Branson has previously expressed interest in getting into the Las Vegas and Nevada casino industry. Even though there have been properties sold and erected in the recent past, he was not able to find the “right piece” that would fit with his program. This right piece finally presented itself in the form of a January’s Hard Rock sale announcement.

More News

Does Mobile Sports Betting Have a Future in New York?
At the beginning of April 2019, New York lawmakers opted to leave mobile sports betting out of the state’s FY
Read more.
Two Arkansas Racetracks Reopen as Full-Scale Casinos
In November 2018, Arkansas was one of the states that were voting in favor in of gambling expansion. Earlier this
Read more.
West Virginia Legalizes Online Gambling and Poker
West Virginia is now the fifth state in the United States to have given the green light for an online
Read more.
Virginia Advances Casino Gambling, Sports Betting Bill
The Virginia General Assembly has made a historic move by supporting the legalization of sports betting and casino gambling by
Read more.
St Patrick Smiles on Hawaiian Who Wins $1m in Las Vegas
Las Vegas is a place where quite a few interesting stories begin, and sometimes even end. A Hawaiian visitor of
Read more.
Bet365 Prepares to Debut in the United States
Renowned United Kingdom-based online gambling operator Bet365 is a step closer to offering its gaming services to the growing sports
Read more.
Carl Icahn Ups Stake to Become Caesars’ Largest Shareholder
Entities related to New York billionaire, Carl Icahn have in the past week purchased 38.9 million shares of Caesars Entertainment
Read more.
Keystone State Marks March Gambling Awareness Month
Jennifer Smith, the Keystone State’s Drug and Alcohol Programs (DDAP) Secretary has today officially kick-started the activities that mark Mars
Read more.
Virginia General Assembly Passes Casino Legislation
Last Saturday, the General Assembly of the state of Virginia passed compromise legislation that would effectively introduce the state –
Read more.
AGA Pens Advisory Letter on Gaming Priorities to US Congress
The United States’ gaming industry has seen a lot of ups and downs but it goes without saying that it
Read more.
Scroll Up