Richard Branson is entering the Las Vegas market.
The eccentric billionaire plans to paint Sin City Virgin red, announcing that his Virgin Hotels segment has closed on a private real estate transaction to purchase Hard Rock Las Vegas for an undisclosed sum.
The hotel will remain under the Hard Rock Las Vegas name until 2019, as the group plans to spend in the hundreds of millions of dollars to revitalize and re-conceptualize the iconic Vegas property.
“Las Vegas has long held a special place in my heart,” said Sir Richard Branson, Founder of the Virgin Group. “Virgin Atlantic and Virgin America have enjoyed flying to Las Vegas for years and I’ve always known that Virgin Hotels could thrive there as well. I’m really looking forward to painting the town Virgin red.”
The hotel will reopen as the Virgin Hotel Las Vegas, and will include 1504 rooms, a 60,000 renovated casino, multiple pools over five acres, new restaurants and new nightlife among several other amenities.
“Our partnership is extremely proud to be investing in the Las Vegas market with an amazing brand like Virgin Hotels,” said Partner and new Property CEO, Richard “Boz” Bosworth. “We couldn’t be more passionate about the project and this partnership, and look forward to the exciting journey ahead.”
Virgin Hotels CEO Raul Leal calls Las Vegas the perfect city for the next Virgin hotel.
“We are dedicated to delivering the best in design, entertainment, heartfelt service and culinary excellence and we can’t wait to welcome visitors to what is sure to be an awe-inspiring Las Vegas experience.”