Richard Branson Wants to Buy Vegas Strip Property for Virgin Hotel

Billionaire Richard Branson is actively seeking to buy a large property on the Vegas Strip. And he wants to transform any potential property into one of his Virgin Hotels. Amanda Caskey, a Virgin Hotels spokeswoman, confirmed the the story. “Virgin Hotels, in partnership with Bosworth Hospitality Partners, LLC and Juniper Capital Partner, LLC, is in […]

Billionaire Richard Branson is actively seeking to buy a large property on the Vegas Strip. And he wants to transform any potential property into one of his Virgin Hotels.

Amanda Caskey, a Virgin Hotels spokeswoman, confirmed the the story.

“Virgin Hotels, in partnership with Bosworth Hospitality Partners, LLC and Juniper Capital Partner, LLC, is in the due diligence phase on an asset in the Las Vegas market,” said Caskey.

“With that, they, collectively, have been approached for additional opportunities in the market. There are no additional details to share at this time.”

According to Vegas Inc, Caskey didn’t offer any clues as to what property the Virgin Group leader is seeking.

Richard Bosworth, who founded Bosworth Hospitality Partners and is currently working with Virgin, offered confirmation on the deal.

“We are highly energized right now in pursuit of procuring a Las Vegas casino hotel resort,” Bosworth stated. “Due to confidentiality concerns I cannot share any specific details. However, we are completing our confirmatory due diligence.”

Branson Sees Major Value in Las Vegas

Branson has always been interested in Las Vegas. And he said that the city is a “mainstay destinations for our travel companies and our customers. Virgin Atlantic and Virgin Holidays, and now Virgin America, have all been bringing happy holidaymakers to Vegas for many years, and I’m sure we’ll continue for a long time to come.”

Anthony F. Lucas, a professor at UNLV’s hotel administration schools, believes that Virgin would be a positive addition to the Vegas market.

“I do hope they come here because they’re great. I love what they’re doing,” said Lucas. “I like any business that’s savvy enough to think like a guest. That’s what makes Wynn better than anyone else…and he is. Just like Wynn, Virgin identifies pain points for customers and tries to figure out a way to fix them.”

Last month, Golden Entertainment bought American Casino & Entertainment Properties, which owned the Stratosphere. And Fontainebleau was sold to Witkoff and New Valley LLC for $600 million earlier this year too.

 

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