Hakkasan Group Purchases 90% Share in Light Group
The newly minted Hakkasan Group, owners and operators of the renowned Hakkasan nightclub in Las Vegas, has purchased Morgan Hotel Groups’ 90% majority share in Light Group, who was the owner of the recently opened Light nightclub in Mandalay Bay. The Hakkasan nightclub and restaurant opened its doors in 2013, and the $100 million and 80,000 sq. foot facility established itself as the nightclub in the Sin City. Since its inception, the Hakkasan group has aggressively attempted to acquire and partner with some of the biggest players in the nightlife industry, such as the TAO group, owners of the Vegas and New York nightclub, Marquee.
With its acquisition of the Light Group, Hakkasan will be able to consolidate one of the most crowded industries in Las Vegas, and with the opening of the brand new 75,000 sq. foot Omnia nightclub in Caesars scheduled for the spring of 2015, will be the owners of three of the newest and most talked about nightclubs in Las Vegas. The deal with the Light Group was reportedly valued at over $40 million in cash and debt, while the Morgan Hotel Groups’ purchased the 90% share in the Light Group for $46.5 million.