Grandiose billionaire Richard Branson, the founder of the Virgin Group conglomerate, decided to expand his business aspirations and enter a brand, new project – a fruitful casino business!
As announced earlier in 2018, the makeover will take place in late summer or early fall of 2019. Renovations will last for eight months, after which it will be relaunched with a sensational party.
Who’s In the Game?
This project is just one of many planned in Vegas. The purpose of all future developments is to boost tourism and bring more consumers.
Besides Sir Branson, Richard ”Boz” Bosworth, J.C. Hospitality president and CEO, and Raul Leal Virgin Hotels CEO, are also in this promising partnership. The project also includes several other investors, such as Cowie Capital Partners, Dream, Fengate Real Asset Investments and a few more.
The big red “V” corporation already has more than 400 companies in control. Striving to remain recognizable for fun, and without being taken too seriously, they will rebrand the new property in such a manner.
As HR has been Branson’s favorite spot over the years, he is truly delighted to take part in the upcoming changes. With the idea to bring back the old glory back to this kingdom of entertainment, he gave us a slight hint on what’s going to happen in the months to come. It has a good potential to become one of the most noteworthy landmarks in the city.
What Happens with the Employees?
The entire transformation consists of two phases. During the first stage, the venue will remain open for business and visitors. However, during the second stage, it will be closed down temporarily.
Employees should not worry at all, as the management is committed to providing financial assistance during the disruption. Those who are willing to return to their job after a short-term layoff will sign a special agreement “I’ll Stick Around and Come Back”. This pledge means those individuals will start working as soon as the property is back in the business, without having to re-apply for the job.
As we said, they will receive a compensation package. Despite the upcoming thorough renovations, the heads wanted to take good care of the staff, ensuring that this layoff doesn’t mean they are sacked, or permanently removed from their positions.
A Sneak Peek into the Facelift
Unfortunately, there aren’t many juicy details on how will the transformed venue look like. We can only suppose that they remained under the veil of mystery, so that the fabulous reopening could look even more magnificent.
What we do know is that all of the 1500 guest rooms will undergo a complete metamorphosis.
In addition to this, the casino floor will expand; the events and conference space will also grow. There will be a new ultra lounge and several fancy restaurants. Modernization is also expected in The Joint, a well-known rock club. Moreover, a 5-acre pool deck will also be refined and re-invented.
The upgrades will roughly cost hundreds of millions of dollars, at least that’s what they are willing to spend. Need we say more! But trends dictate it all, so despite being the capital of gambling, Vegas needs to go with the flow if it wants to survive.
Time Will Tell…
Knowing that music is Mr. Branson’s greatest passion, we can only assume that there will be no limits in creativity. Expect the unexpected somehow describes the whole thing at its best. We can only count moments and wait for the big moment to come. The renewed venue will surely look breathtaking.
After all, Las Vegas is all about having the greatest time of your life, a place where you enjoy shopping, nightlife and numerous other forms of entertainment. At least we know what will be the first “must see” for all those who plan to visit Sin City in 2020.