Richard Branson has purchased the Hard Rock hotel and casino in Las Vegas. Branson is behind the Virgin Group, a UK company. He is currently sixty-seven and still looking for investments that will help keep his company alive and going. Virgin has become one of the most recognized names around the globe.
Richard Branson drank champagne at the event on Friday, March 20, 2018, after announcing the purchase was finalized. The hotel is going to have a rebranding to be completed at the end of 2019, perhaps after a few renovations are done.
Hard Rock Casino Las Vegas will be rebranded with the Virgin name. Also, among the highlights during the press conference regarding the purchase, Branson said Juniper Capital is an investment firm joining in as a partner with the Hard Rock casino deal. The details of the acquisition are not disclosed. However, the information about Juniper Capital, a Los Angeles investment firm was confirmed.
Branson told media that it was his dream to have a hotel and casino. His net worth is $5.1 billion, at least according to the Forbes data from 2017. This will be another hotel to add to his holdings. He also has Virgin Hotels, which started in 2010. Virgin Hotels is located in Chicago. The hotel in Las Vegas is helping him branch his hotels, which he said he wanted to do in other major cities like Dallas and New York City.
Renovations to Hard Rock
Branson announced the hotel on the Strip would continue operations during the upgrades. He does intend on renovating all 1,500 rooms and suites throughout this year, with final work done by the end of 2019.
He wants Vegas visitors to know they can stay at the hotel and it will get an update to fit the Strip.
In speaking with the media, Branson said that the Hard Rock Hotel and Casino in Las Vegas is his favorite. The staff is fantastic, which is imperative to operating a good business. He also mentioned that the renovations are going to be a lot of work, necessary work to keep people coming to the hotel.
Branson has a deal with the Rolling Stones and Sex Pistols through Virgin Records. The Hard Rock hotel and casino fits his rock n’ roll business and love of the music. The design of the Hard Rock is going to change to fit Virgin’s brand.