Hakkasan To Purchase Light Group In Major Nightclub Shift

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UPDATE: Morgans Hotel Group Announces Agreement To Sell The Light Group To Hakkasan Group For $36 Million

The web is hinting news that Hakkasan is set to acquire Morgans Hotel Group's stake in Light Group. This could mean the company that owns and operates Hakkasan Nightclub inside the MGM would be taking control of about 20 restaurants and nightclubs in Las Vegas. While the final price is not known, Forbes is reporting that the deal could be close to $40 million dollars.

This could mean popular Vegas nightclubs 1 Oak, The Bank, and Light, as well as the club underdevelopment in Aria, would now be under new management. There are no released details of what venues are in the potential deal. Representatives from both sides declined to comment. Word on the street is that negotiations have been going on for months and it's no secret Hakkasan has been on an aggressive streak of expansion. Just this year they purchased Enlightened Hospitality Group out of San Diego. They also have plans to open another mega-club in Vegas at Caesars Palace in 2015 called Omnia with a sister nightclub with the same name in San Diego.

If the purchase goes through, Hakkasan could potentially run two of the behemoth EDM nightclubs in MGM properties with Hakkasan at MGM and Light at Mandalay Bay. With Omnia on the way, their stronghold on the nightclub scene would be pretty intense. How will this effect the highly competitive nightclub landscape? Only time and DJs can tell.

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