Hard Rock Las Vegas Sale Finally Officially Confirmed

After months of us sounding like a crazy person, the sale of Hard Rock Las Vegas has been confirmed.

A news conference was held at the Hard Rock in conjunction with the long-awaited announcement. Watch it.

The Hard Rock was purchased by Richard Branson’s Virgin Hotels in partnership with a group led by Juniper Capital Partners and Fengate Real Asset Investments along with their partners Dream, Cowie Capital Partners and other private investors.

The sale closed March 30, 2018.

Virgin Hotels

It’s about time you showed up!

In attendance at the news conference were Richard Branson (described as a “partner” in the deal), new CEO Richard “Boz” Bosworth, Virgin Hotels CEO Raul Leal and a number of young women dancing around in bikinis.

We first got wind of the Hard Rock sale back in March 2017, then reported the involvement of Richard Branson’s Virgin Hotels earlier this year. We love when a plan comes together, no matter how long it takes.

Virgin Las Vegas

It’s officially official.

During the news conference, it was announced Hard Rock will continue to operate under its current name through 2018.

A major renovation of the resort will happen in 2019. Changes will be “phased in” according to Virgin Hotels, and the resort will officially become a Virgin Hotel in late 2019.

We’re pleased about this news as it allows us to share this rendering we made. Because chastity belts. And virgins.

Virgin Las Vegas rebrand

Hey, you keep something under wraps this long, we’re going to fill in the gaps.

“We’re going to spend hundreds of millions in transforming this property,” said Richard Bosworth of Bosworth Hospitality.

According to a news release, “The hotel will feature 1504 well-appointed Chambers, Grand Chamber Suites and Penthouse Suites; a 60,000 square foot, fully-renovated casino, multiple pools over five acres, world-class restaurants, lounges and bars, including new nightlife venues and the brand’s flagship space, the Commons Club, as well as numerous meeting and convention spaces.”

We trust “chambers” are like rooms, only more “Virginy.”

Here’s more about the sale of Hard Rock Las Vegas and its transition to Virgin Hotel.

At the news conference, as if it needed asking, one reporter asked, “Why Las Vegas?” Richard Branson said, “Virgin’s all about fun, entertainment and not taking ourselves too seriously.”

Richard Branson passed on giving specifics of the cost of Hard Rock.

While Branson didn’t get into details about the sale at the news conference, when asked about rebranding the hotel’s entertainment venues, he said, “The Joint’s got a fun name.”

Virgin Hotel Las Vegas will continue to have a casino, thankfully. A gaming partner will be announced at a later time, per Virgen Hotels CEO Raul Leal.

As for the Hard Rock’s memorabilia, it’s staying.

Richard Branson has been quoted as saying, “You’re not going to walk into slot machines the moment you walk into a Virgin Hotel like you do the Hard Rock, but we’ll be tasteful, fun, and we’ll get the right balance there. I come from the rock ‘n’ roll business, and the memorabilia is something that fortunately comes with the hotel. So it’s incredible for me to suddenly have this collection of wonderful rock ‘n’ roll memorabilia.”

Hard Rock Las Vegas

Dibs on this sign.

It’s been a tough slog for the Hard Rock recently, and this sale will breathe┬ásome much-needed new life into the resort.

Richard Branson said, “It’s been allowed to get a bit tired over the years, but it’s got fantastic staff and that’s the absolute key.”

Virgin Hotels is an intriguing brand that’s been described as “disruptive,” and Las Vegas loves disruption as much as we do.

It was fun while it lasted, Hard Rock, and welcome to Las Vegas, Virgin Hotels.

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10 thoughts on “Hard Rock Las Vegas Sale Finally Officially Confirmed

  1. toohool

    Who is the majority owner is a good question. The deed that was recorded yesterday transfers ownership to HRHH PropCo LLC, a brand new company that has the same contact address as Brookfield Asset Management. Maybe Brookfield is keeping a stake in the property?

    Reply
    1. Big Steve

      The sale is still subject to regulatory approval. No doubt the HRHH PropCo LLC is a parking spot until everything is approved.

      Reply
      1. toohool

        Possibly, but that doesn’t fit the usual pattern. If what they announced today is a sale agreement contingent on gaming commission approval, then typically there would be no reason to file a deed until the approvals are received and the sale closes.

        If what they announced today is that the land and buildings have been sold, and Warner Gaming will continue to operate the place until the new owners get their gaming license, then we would expect to see a deed to the new owners.

        Also, there was a new mortgage recorded on the property today, so this is definitely a closed sale, and not just a sale agreement.

        Reply
  2. FYMYAWF

    Interesting news, but off-strip is still off-strip. Peeps who normally stay on the strip (like me) and are steeped in the strip ecosystem need something pretty special (or a great value) to venture off of it.

    Hopefully Virgin can hit the renovations out of the park and make the place a destination again, but it’s probably going to take a killer rewards program or some seriously discounted rooms to entice the strip denizens.

    Reply
  3. Bouldersteve

    Branson is right the Hard Rock brand is tired. I don’t see him keeping the name in the long term.

    Reply
  4. VegasSlushy

    I remember thinking that the Hard Rock was cool. I couldn’t afford it then, or now, but it was cool. I could even afford to play blackjack there many years ago. Those days are long gone.

    I have no affection or great memories of the place. I never hung at the center bar area back in the day when they had such a thing, and hanging out there was a thing. I never spotted a celebrity while I was there.

    I shouldn’t miss it at all, but it does sadden me that it will no longer be a thing. I can’t explain it, but it’s true.

    Reply
  5. Manybar Goatfish

    It seems like a place I might have been to once, but I wouldn’t bet on it. Someone might have slipped me a roofie by mistake. The dental bridge in the front of my mouth is what makes me suspicious.

    Reply
  6. Wolfdog

    I guess it’s good news. But if they don’t bring back good video poker, and a better shuttle service from the Strip, The new owners won’t see me either.

    Reply

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