Date: Wed, Dec 17, 2014 at 10:01 AM
Subject: Nightclub operator Hakkasan acquiring Light Group in $36 million deal – VEGAS INC
This is the 2nd M&A of nightclubs by Hakkasan in 2014. In 3/14, it also bought Angel Management Group which owned Pure nightclub at Ceasars Palace Hotel-Casino.
The Hakkasan nightclub at the MGM Grand Hotel-Casino cost $100M to build and is 80,000 square foot in size. Hakkasan may likely be one of the Top 10 highest revenue nightclubs in the US.
Hakkasan Group is based in London, UK and reportedly owned by Abu Dhabi government-affiliated investment firm Tasameem Real Estate Co., LLC; which does not list any key executives on Businessweek/Bloomberg. Abu Dhabi is the #2 largest city in the United Arab Emirates in the Middle East.
Sheikh Mansour bin Zayed Al Nahyan from Abu Dhabi has a 2009 net worth according to Forbes of $5B. But his family’s collective net worth is $150B. The Sheikh also chairs Abu Dhabi’s International Petroleum Investment Co., which is part of the United Arab Emirates’ government-controlled $650 Billion sovereign wealth fund.
The #1 largest city in the United Arab Emirates (U.A.E.) is Dubai. VC from Dubai is also a co-owner with MGM Grand Hotel-Casino’s 76-acre, $9 billion (Wikipedia cost estimate) mixed-use http://www2.Citycenter.com on the Las Vegas Strip.
Billionaires from Australia and Malaysia have also recently scooped up hotel-casino sites on the Las Vegas Strip in 2014.
Still not convinced that Las Vegas is the next GLOBAL CROSSROADS of CAPITAL?