Hard Rock LV gets new owner

Richard Branson has acquired the Hard Rock Hotel and Casino in Las Vegas for an undisclosed amount of money.

US.- Sir Richard Branson, founder of the Virgin group, has announced that he is the new owner of the Hard Rock Hotel and Casino in Las Vegas. The facility will begin major renovations in 2019 and it will still remain open for operations.

Virgin hotels purchased the property with a group of partners, including the investment firm based in Los Angeles, Juniper Capital Partners. Brookfield Asset Management still hasn’t disclosed the terms of the purchase.

In an interview with Conde Nast Traveler, Branson said: “It will absolutely be a gaming hotel, and we’ll have a gaming partner that we’ll announce later.” And he said: “We’ve looked at a variety of locations around Las Vegas over the last six or seven years since we launched Virgin Hotels as a brand, and we always wanted to make sure that we had a destination location, and someplace that we could really carve out and make special the Virgin way. And we’ve always really loved that building—it’s got an amazing layout and Hard Rock is an iconic brand. We love that it’s off the Strip because we believe that we’ll still also cater to the people who go to the Strip but also cater to locals, which is a big part of our strategy.”