The rumored merger of the Las Vegas Nightlife Titans applies to the takeover of the Hakkasan Group – EDM Life by the Tao Group
The nightlife in Las Vegas just saw the most significant merger in its history when New York City-based Tao Group Hospitality acquired its Las Vegas headquarters. Both companies are two of the biggest players in nightlife and restaurants in Las Vegas and other major cities around the world. Everyone has a stake in the city’s nightlife that represents sales of half a billion dollars or more per year.
Following this merger, the two merged companies operated a total of 61 entertainment and nightlife outlets in 22 markets on five continents, including brands such as Tao, Marquee, Lavo, Beauty & Essex, Avenue, Cathédrale and Koma Hakkasan and Yauatcha. Omnia, Ling Ling, Jewel and Casa Calavera, among others.
The Hakkasan Group Executive Team will continue to manage the day-to-day operations of the Hakkasan properties under the direction of Tao Group Hospitality under the direction of Co-CEOs Noah Tipperberg and Jason Strauss.
Noah Tepperberg, Group Co-CEO, emphasized the scale of this merger, saying in his Billboard interview that this merger marks a significant change in life today and offers integrated entertainment. Tepperberg also stated that they would provide a platform for leading artists in the industry as these venues are the first live music venues in the world. MSG Sphere can move from a capacity of 500 people to a place of 20,000 people when opened. And he added that when they opened the Tao in Las Vegas 16 years ago, they never imagined where it was going.
A similar merger took place in 2017 when Madison Square Garden Company acquired 62.5% of the common stock of Tao Group, led by founders Mark Packer, Rich Wolf, Noah Tipperberg and Jason Strauss. That deal was valued at $ 181 million.
In all branches, the Tao Group is interested in working according to the safety and health standards and taking preventive measures related to COVID-19. The Tao Group expects the newly merged company to be well positioned to capitalize on this pent-up demand and pave the way over the long term.
It should be noted that MSG Entertainment has a controlling interest in Tao Group Hospitality and, as a result, also has an indirect controlling interest in this merger.