MGM and Hakkasan to Partner on “Non-Gaming Hotels” Worldwide

Image via Rukes
Image via Rukes

When 2013 residents of Las Vegas’ then brand new Hakkasan nightclub Calvin Harris and Tiesto became Forbestop-earning DJs of 2013 with a combined total of $78 million earned between them (with a number of rumored six-figure Hakkasan payoffs aiding that total), the idea of MGM hotels taking Hakkasan global likely began to make sense.

Buoyed by their successful $100 million dollar build-out of the MGM hotel in Las Vegas to include a restaurant and aforementioned nightclub, according to Chairman and CEO of MGM Resorts International Jim Murren told Forbes, “the newly formed MGM Hakkasan Hospitality provides us both with access to capital as well as the opportunity to join their internationally renowned lifestyle brand with iconic brands such as Bellagio and MGM Grand.” Under CEO Jim Moffat, Hakkasan has grown from restauranteur Alan Yau’s 2001 vision of just being an upscale, London-based Chinese restaurant to an investment for Abu Dhabi’s Sheikh Mansour bin Zayed Al Nahyan by 2008, and now a restaurant/nightclub/hotel chain by 2014.

The partnership is a 50/50 split joint venture and allows for companies to share projects currently under contract or under development to either party in said venture. With plans between both companies including expansion in numerous locales in North and South America, Asia, and lexury locations in the Middle East including Qatar and United Arab Emirates, the high-end cash potential for the EDM clubs likely to be installed in these hotels expanding past the reported $200,000 payouts to Calvin Harris is almost certainly a guarantee. Insofar as dance stories-of-note to watch, this is absolutely on that list.