Tao Group Hospitality announced the purchase of the Hakkasan Group, which could have major implications on the Las Vegas nightlife scene.
The newly combined company operates 61 entertainment dining and nightlife venues in 22 markets across five continents, including the Hakkasan Group’s Hakkasan, Yauatcha, Omnia, Ling Ling, Jewel, and Casa Calavera.
Hakkasan Group’s executive team will reportedly continue to run day-to-day operations for the Hakkasan properties under the direction of Tao Group Hospitality, led by co-CEOs Noah Tepperberg and Jason Strauss.
“Hakkasan Group is a strong strategic fit with a venue portfolio that not only expands our U.S. presence, but gives us an important foothold in key global destinations,” Tepperberg said in the press release. “Over the last 20 years, Hakkasan Group has built some of the most successful brands in the hospitality industry. This partnership provides a tremendous platform to use our combined scale to create new opportunities that drive value.”
Hakkasan Group’s portfolio is expected to expand Tao Group Hospitality’s domestic reach in key markets like Las Vegas.
Tao Group Hospitality is part of Madison Square Garden Entertainment Corp. and among its properties includes the MSG Sphere, a state-of-the-air venue coming to Vegas in 2023.
“Despite the challenges caused by the pandemic, we know there’s a real desire by people around the world to gather once again,” Strauss said in the press release. “As indoor dining and other hospitality experiences start to return to regular operations, we believe our newly combined company will be well-positioned to take advantage of this pent-up demand, setting the stage for long-term growth.”
Hakkasan Group creates restaurant, nightlife, and daylife venues that focus on crafting remarkable experiences for its guests, such as Hakkasan, a nightclub at the MGM Grand that offers world-class music and top-level dining and entertainment.
