The combined company makes one of the largest publicly listed gambling companies in the world.
Online gaming giant GVC, parent company of the growing partypoker online poker brand, has completed a deal to takeover leading UK high street bookmaker Ladbrokes-Coral.
The terms of the agreement value the combined company at between £3.2bn and £4bn, making it one of the largest gaming companies in the world.
Benjamin Zamani has won the 2018 World Series of Poker Circuit Planet Hollywood $1,675 no-limit hold’em main event. The two-time WSOP bracelet winner outlasted a field of 610 total entries …
It’s finally here… The Poker Academy has just announced the launch of the latest chapter of their comprehensive No-Limit Hold’em Cash Course. This course is called The Fundamentals of No-Limit …
Billionaire Richard Branson bought the Hard Rock Hotel and will rebrand it as Virgin Hotels Las Vegas at the close of 2019.
“I’m really proud today to announce Virgin Hotels has bought the Hard Rock Hotel, and we’ll be bringing it back to its old glory again under the Virgin brand,” said Branson on the Virgin website.
Branson, the founder of the Virgin Group, along with his executives, made the announcement from the Hard Rock March 27 at the outdoor pool lounge of the hotel, reported the Las Vegas Review-Journal.
The Friday sale was facilitated by Toronto’s Brookfield Asset Management. Branson partnered with Bosworth Hospitality Partners founder Richard “Boz” Bosworth, the hotel’s new CEO; LA investment firm, Juniper Capital Partners; and Toronto’s Fengate Capital Management.
Branson has worked since the 90s to establish himself in Vegas. Even so, Branson and Bosworth would not disclose the purchase price or terms at the press conference. He instead promised “magic” and a hotel not “far out of their way.”
The Hard Rock currently has 1,500 rooms and is a mile east of the Strip, something Branson said affected the price to his advantage. The hotel will keep its name until the end of the renovation, which will occur in phases. The property will remain open throughout the company’s potentially “hundreds of millions of dollars” spent to renovate.
What did he disclose? The longstanding guitar out front may have to go. Instead, it may be replaced with a giant V.
Traveller reported that the property will retain its casino floor, managed by a partner.
Play At Virgin Online Now With Free Signup Bonus
Visit VirginVirgin Hotels currently operates one property in Chicago, with almost a dozen in the works. Virgin Hotels CEO Raul Leal told the Las Vegas Review-Journal that this Las Vegas hotel comes in as its largest in terms of rooms.
Branson himself set his sights on Vegas first back in 2000 when he launched Virgin Atlantic’s passenger service from London to Vegas. He also contributed investments for the Hyperloop One. He roped the Virgin name into the title, Virgin Hyperloop One, when he joined the transit startup’s board last year.
Branson told Fortune:
“Virgin is all about fun, entertainment, not taking ourselves too seriously. 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.”
According to the Las Vegas Review-Journal, Branson has wanted to open a casino in Vegas for a while now. When the the Virgin Megastore in Caesar’s Palace closed in 1997, he reportedly was in the market for a hotel. However, he just couldn’t find the right one.
This sale comes as no surprise. Reports from November place Branson in the market for a hotel.
Though it opened in 1995, the Hard Rock was sold in 2006 to Morgans Hotel Group Co. for $770 million. Later, in 2011, Brookfield reached a settlement with the owners to assume ownership.
Not only that, but Virgin Hotels will also open a spot in Washington D.C. in 2019 with additional properties planned for major areas. Virgin Voyages cruise ship, Virgin Atlantic, Virgin Hyperloop One, Virgin Orbit, and Virgin Galactic keep the Virgin namesake in Vegas for the foreseeable future. Or, at the very, least, in the press.
Photo by Kathy Hutchins / Shutterstock.com
The post Richard Branson Buys Hard Rock Casino, Bringing Virgin To Vegas appeared first on Play USA.
What’s in a name?
If you’re Wynn Resorts, quite a bit is riding on the name of its Boston Harbor casino project. In fact, the future of the company’s $2.4 billion resort casino in Everett, Massachusetts could very well hinge on the name that adorns the side of the building.
Wynn Resorts has come under fire to remove the name of its beleaguered former CEO from the side of its Wynn Boston Harbor project. Both the public and Massachusetts public officials, including the Governor and Attorney General, are calling for a name change.
After originally dismissing the idea, there is an increasing amount of evidence that points to a name change being in the cards.
Confirmation of the potential blockbuster development first came to light after Wynn executives appeared before the Massachusetts Gaming Commission after allegations against the company’s former CEO Steve Wynn came to light.
Following a Massachusetts Gaming Commission hearing last week, Wynn Boston Harbor President Robert DeSalvio confirmed the rumors.
“We are absolutely considering a rebranding of the project and we’ll have an announcement on that at a later date.”
The Boston Herald is reporting that Wynn Resorts recently registered several website domains that indicate the company’s “Encore” brand is the leading candidate for a new name.
The Herald reports Wynn Resorts registered the following URLs:
Despite the very visible breadcrumb trail, a Wynn spokesperson pumped the brakes on the name-change speculation. They told the Herald:
“Whenever we open a new resort, it is both policy and a good business practice to secure the domain names of all our branded business units.”
“There’s no truth that we’ve finalized the name,” the spokesperson added.
Not everyone is convinced the property needs to rebrand.
If the property rebrands, Encore is the obvious choice.
Encore is the sister property to the Wynn on the Las Vegas Strip as well as in Macau.
That said, without a Wynn casino to play off of, the Encore brand is entirely untested. It would have minimal brand recognition outside of Las Vegas and Macau.
Even though it may not carry the same brand recognition as Wynn, right now, a clean, unknown brand like Encore is probably a better option than the well-known, but highly controversial Wynn brand.
Still, I wouldn’t expect a decision in the immediate future. The company has enough time to weigh its options and take stock of the damage Steve Wynn’s alleged misbehavior has caused to the Wynn brand before it decides if a name change is in its best interest.
Photo by Robert Cravens / Shutterstock.com
The post Amidst Controversy, Wynn Boston Harbor Contemplates A Name Change appeared first on Play MA.
The former Revel Casino has partnered with a major hotel chain. Ocean Resort Casino will be part of Hyatt’s Unbound Collection when it opens this summer.
The post Ocean Resort Casino Teams Up With Major Hotel Chain appeared first on Play NJ.
The struggling SLS Las Vegas casino on the north end of the iconic Strip will be getting a much-needed investment. Per the Las Vegas Review-Journal, Reno-based businessman Alex Meruelo told …
Temporary regulations for Pennsylvania’s forthcoming online lottery are now available. The regulations cover game rules, registration requirements, and responsible gaming policies.
The post Pennsylvania Takes Another Step Towards Online Lottery Launch appeared first on Online Poker Report.