Billionaire Richard Branson acquires Hard Rock Hotel and Casino in Las Vegas.
Sir Richard Branson, the Virgin Group founder, is planning to renovate and convert the Hard Rock Hotel and Casino in Las Vegas by 2019 at a cost of hundreds of millions of dollars. The "Virgin Hotel Las Vegas" is due to open in 2020. Current operations will continue until then under its original name.
In a recent interview, the 67-year-old billionaire shared his love for the Hard Rock Hotel, one of Las Vegas' popular casinos. Born in London, this music executive turned multi-billionaire (according to Forbes, his fortune is approximately $5.1 billion) made his mark on the world through Virgin Records in the 1970s.
The acquisition of the Hard Rock complex was completed earlier this year by Virgin Hotel, a subsidiary of the Virgin Group. This purchase marks the second branch of the Virgin Hotel chain, which plans to extend across the United States. The first hotel opened in Chicago back in 2015. Other locations will follow in New York, Dallas, Washington DC, New Orleans, and San Francisco. A Virgin Hotel in Edinburgh, Scotland, is also scheduled for an opening in 2020.
Branson brought on a partnership from Los Angeles-based investment company, Juniper Capital Partners, to close the deal on the Hard Rock Casino.
Royal Attitude and Business Savvy
Branson leads a group of over 400 subsidiaries with brands like Virgin Atlantic and Virgin America. His success is often attributed to his mental strength and the company culture he established.
A known environmentalist, Branson is also a philanthropist, entertainer, and known for his extravagant personality. He was knighted by the Queen in 1999.
This weekend, Branson hosted a lavish party to celebrate the new Hard Rock acquisition. He reiterated the importance of aligning his company's values with the property they bought:
Virgin is known for our fun, entertainment, and not taking ourselves too seriously. We wouldn't have ventured into Las Vegas with a hotel if we didn't have a property where we could fully embrace our core principles.
Known for his playful personality, Branson is still going strong. Despite his age, he remains lively and has no intention of slowing down. He is a relentless entrepreneur, constantly pushing the boundaries and seeking excitement.
Cultivating the Brand
The iconic guitar on the entrance portal of the Hard Rock Hotel has made it a well-known landmark in Las Vegas since the resort opened in 1995.
Despite his friendly demeanor, Branson is uncompromising when it comes to presenting his own brand. The familiar Hard Rock symbol will not survive the renovations. Instead, a massive 'V' logo will take its place. Branson, who is famous for his out-of-the-box marketing tactics from abseiling from helicopters to jet-skiing through fountain pools, has promised an unforgettable transformation of the resort. However, the hotel's current operations will continue without changing the existing name until the 2020 inauguration.
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Source: www.onlinecasinosdeutschland.com
