Today we invite you to dive into the world of finance and casinos with the affair that is sparking ink this first week of April 2018: the case of Virgin Hotels Las Vegas. Indeed, Richard Branson has just got his hands on the Hard Rock Hotel and Casino, a very large gaming establishment set back from the Strip. Even if the Hard Rock Hotel and Casino is not the most emblematic establishment of Sin City, it nevertheless knew how to charm the billionaire Richard Branson who had just set his sights on him. We therefore find ourselves here facing a personal project for this businessman who should see the transformation of the casino be completed by 2020, to become a Virgin Hotels Las Vegas.
Richard Branson gets into the game
Are you a die-hard Hard Rock Hotel and Casino fan? Well, we have some bad news for you, as you only have two short years left to enjoy the charms of this establishment in the state. Indeed, it will leave its place at the Virgin Hotels Las Vegas at the end of renovations at the end of 2019. Improvements and renovations which should considerably increase the capacity of the gaming room. But that’s not all, because it plans are to dig new swimming pools and increase the number of rooms to 1,500.
For everything else, the press release published by the Virgin group is rather discreet and elusive, even silent about the amount of the transaction.
Hard Rock is not dead!
Indeed ! Do not imagine that this financial transaction and new acquisition of the Hard Rock Hotel by the Virgin group sign the end of the franchise. The latter has no fewer than ten other drop-off points in the United States and even plans to open five more in the coming years. But it is a wise new purchase and above all an acquisition which marks an acceleration in the development strategy of Virgin Hotels. He plans to add soon to his establishment in Chicago, which is quite recent because it opened in 2015, new addresses in San Francisco, Dallas and New York.
Richard Brunson and his brand Virgin
Branson is finally getting into the casinos and doing it with his Virgin group which is, it is useful to remind you, a huge empire comprising very diverse brands. Within this firm we find the airline company Virgin Atlantic, but also the mobile telephone company Virgin Mobile and Virgin Galactic, a sector which aims to develop the crazy project of space tourism.
It will therefore be the turn of Virgin Hotels, one of its subsidiaries, to acquire a new property that its founder aimed, it must be admitted, for a very long time already.
New for Branson
At the age of 67, the billionaire recently announced that he had got his hands on the Hard Rock Casino in Las Vegas. Something that does not really surprise the world of casino operators or finance since it seemed indeed interested in this type of entertainment for more than 20 years. It will therefore be the very first casino controlled by the businessman. But who says new purchase and new arrival in the sector says reset. And Hard Rock purists will therefore be rather disappointed to learn that Branson intends to completely renovate the establishment, just to put it under the colors of Virgin. On the finance side, we know that, according to the sources of the main interested party,…