LAS VEGAS – Billionaire Richard Branson has bought the Hard Rock Hotel and Casino in Las Vegas.
The property off the Las Vegas Strip will be renamed as the Virgin Hotel Las Vegas in the next few months.
Branson announced the purchase Friday at the casino hotel.
The property has about 1,500 rooms and suites. During renovations, which are expected to be completed by the end of 2019, they will remain open.
Virgin Hotels bought the property with a group of partners, including Los Angeles-based investment company Juniper Capital Partners. The terms of the purchase of Brookfield Asset Management were not disclosed.
The only Virgin Hotel ever opened is Chicago. Others are planned for several cities, including New York, Dallas and Washington D.C.
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