Hakkasan Group to Focus on International Growth Strategy
LAS VEGAS, May 7, 2019 /PRNewswire/ -- Hakkasan Group and MGM Resorts International, two leading hospitality companies, announced today that the management agreements between them for Stack at The Mirage; Fix, Yellowtail, and Lily Lounge at Bellagio, as well as Alibi Ultra Lounge and Herringbone at ARIA, will end effective May 31, 2019. These venues will continue to operate under MGM Resorts' control.
Hakkasan Group will continue to manage JEWEL Nightclub and Liquid Pool Lounge at ARIA, 1OAK Nightclub at The Mirage, Wet Republic Ultra Pool, Level Up at MGM Grand as well as the Hakkasan Group-owned venue Hakkasan Nightclub and Restaurant.
The strategic transaction will allow Hakkasan Group to develop further dining and lounge concepts for the future unrestricted by exclusivity within Las Vegas.
"Hakkasan Group's continued focus is on strategic global expansion in key destinations around the world, and we look forward to bringing new hospitality concepts to market," Michael Ryan-Southern, Chief Financial Officer of Hakkasan Group said. "We'd like to thank MGM Resorts International for the successful partnership and look forward to our continued path together."
Ari Kastrati, Senior Vice President of Food & Beverage Strategy, said, "Hakkasan Group is an outstanding partner and we look forward to our continued collaboration with them. Moving forward, as we bring the management of Stack, Fix, Yellowtail, Lily, Alibi and Herringbone, including all employees, under the MGM Resorts umbrella, we will be focused on a seamless transition and continuing to deliver unparalleled experiences for our guests."
ABOUT HAKKASAN GROUP
Hakkasan Group is a worldwide hospitality company with establishments across North America, Europe, Middle East, Asia and Africa. Its namesake is taken from its Michelin star restaurant that set the high-level standard for the group's collection of diverse brands. Its 'brand first' philosophy builds restaurant, nightlife, daylife and soon-to-open hotels, resorts and residences into world-class hospitality brands, all with a focus on service, design, innovation and experience. Its restaurant portfolio includes Hakkasan, with 12 locations worldwide, Ling Ling, Yauatcha, Sake no Hana, Herringbone and Searsucker. Under the nightlife umbrella is Hakkasan, OMNIA, JEWEL and 1 OAK Nightclub; and daylife brands include WET REPUBLIC, LIQUID, and OMNIA. For more information, visit www.hakkasangroup.com or connect on Facebook Twitter and Instagram @hakkasangroup
ABOUT MGM RESORTS INTERNATIONAL
MGM Resorts International (MGM) is an S&P 500® global entertainment company with national and international locations featuring best-in-class hotels and casinos, state-of-the-art meetings and conference spaces, incredible live and theatrical entertainment experiences, and an extensive array of restaurant, nightlife and retail offerings. MGM Resorts creates immersive, iconic experiences through its suite of Las Vegas-inspired brands. The MGM Resorts portfolio encompasses 30 unique hotel and destination gaming offerings including some of the most recognizable resort brands in the industry. Expanding throughout the U.S. and around the world, the company recently acquired the operations of Empire City Casino in New York and Hard Rock Rocksino in Ohio, which was rebranded as MGM Northfield Park. In 2018, MGM Resorts opened MGM Springfield in Massachusetts, MGM COTAI in Macau, and the first Bellagio-branded hotel in Shanghai. The 83,000 global employees of MGM Resorts are proud of their company for being recognized as one of FORTUNE® Magazine's World's Most Admired Companies®. For more information visit us at www.mgmresorts.com.
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