February 19, 2014 - 10:31 am
Hakkasan Group, owners of the Hakkasan nightclub and restaurant inside the MGM Grand Las Vegas, has acquired Las Vegas-based Angel Management Group, which operates several nightlife and dayclub venues on the Strip and Atlantic City.
Terms of the deal were not announced Wednesday.
Hakkasan is based in London and the transaction provides the company with day-to-day operational capability and infrastructure. In a statement, the company said it hopes to expand its brand and hospitality operations in North America.
In Las Vegas, Angel Management runs the Hakkasan, which opened last year at a cost of $100 million. In addition, Angel operates the Pure Nightclub at Caesars Palace, Wet Republic Ultra Pool at MGM Grand and Social House restaurant inside The Shops at Crystals. In Atlantic City, the company manages the HQ Beach Club and HQ Nightclub at Revel.
Hakkasan selected Angel to manage the MGM Grand location two years ago. Since then, the companies have opened new properties, including Hakkasan Beverly Hills and the newly acquired Herringbone at Mondrian Los Angeles. Hakkasan Shanghai will open in early 2014.
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