Hakkasan Aquires Angel Management Group

Hakkasan Aquires Angel Management Group

by Mikey Lavery
02.20.2014

Big business news emerged from Las Vegas this week as the Hakkasan Group announced their acquisition of nightlife and entertainment company, Angel Management Group.

Angel Management teamed up with the Hakkasan Group in 2012 and were behind the opening of Hakkasan Las Vegas at the MGM Grand. The $100m, 8,000 sq ft super club has emerged as one of the city's leading venues and hosts the world's leading DJs--such as Tiesto and Calvin Harris--as residents.

The deal will see the Hakkasan Group controlling some of Vegas' most popular nightspots including Wet Republic Ultra Pool, Pure Nightclub, LAX Nightclub, Savile Row and Coyote Ugly. Outside Vegas, they now own HQ Nightclub, HQ Beach Club, the Social and Ovation Hall in Atlantic City and Aura Nightclub in the Bahamas.

Neil Moffitt, Hakkasan Group CEO and founder/CEO of AMG said of the deal, "I am delighted to be in a position to unite our collective assets and teams in order to create a strong international group with experience in all areas of hospitality." He goes on, "Our first priority will be to expand upon the success of Hakkasan’s venues and develop the brand portfolio in other markets, followed by the launch of several new concepts over the next few years."

Khadem Al Qubaisi, Hakkasan Group Chairman, released a statement saying, "Following a successful partnership with Angel Management Group, we believe the consolidation of its businesses will accelerate Hakkasan’s goal of creating a suite of multifaceted global lifestyle brands. I am also confident that AMG’s existing relationships in the U.S. hospitality industry will provide opportunities for Hakkasan to establish other strategic partnerships as we seek to grow the business."


Hakkasan Group Acquires Angel Management Group (AMG), Assimilation is Futile

Flush with cash from charging nightclub-goers $12,000 and much, much more for bottle service, Hakkasan Group has acquired Angel Management Group (AMG).

AMG is the nightlife firm that manages Hakkasan Las Vegas and Wet Republic at MGM Grand, as well as Pure at Caesars Palace, Social House at The Shops at Crystals and other oontz-tastic hotspots.

Hakkasan Las Vegas

Hakkasan Las Vegas opened in April 2013 and is 80,000-square-feet of lifelong cochlear and vestibular damage. But lots of people dig it.

AMG has been working with Hakkasan Group for more than two years on the insanely successful Hakkasan Las Vegas Restaurant and Nightclub at MGM Grand. Now, it’s time for AMG to be assimilated.

Not many details of the acquisition are available, but the resulting news release did provide at least one gloriously WTF quote, which is honestly what this Las Vegas blog lives for.

Said Khadem Al Qubaisi, Chairman of Hakkasan Group, “Following a successful partnership with Angel Management Group, we believe the consolidation of its businesses will accelerate Hakkasan’s goal of creating a suite of multifaceted global lifestyle brands.”

“Suite of multifaceted global lifestyle brands” just rolls off the tongue, doesn’t it? Thank you, news release gods.

Pure nightclub

Pure nightclub at Caesars Palace will now be managed by Hakkasan Group. Pure is Hakkasan nightclub’s competition. Which will be awkward if they bump into each other at parties.

What will the acquisition of AMG by Hakkasan Group mean to club-goers? Well, because the costs of managing these nightclub venues will decrease due to increased efficiency, guests can expect a dramatic decrease in the price of cover charges, beverages and table service.

Wow, you were actually believing that for a minute, weren’t you? We thought that whole “just fell off the turnip truck” thing was an urban myth!

Seriously, though, there’s likely to be little, if any, impact on customers. You’re so adorable when you’re gullible like that.

- See more at: http://vitalvegas.com/hakkasan-group-acquires-angel-management-group-amg-assimilation-futile/#sthash.TYyg9Jw6.dpuf

Hakkasan Group Acquires Angel Management Group (AMG), Assimilation is Futile

Flush with cash from charging nightclub-goers $12,000 and much, much more for bottle service, Hakkasan Group has acquired Angel Management Group (AMG).

AMG is the nightlife firm that manages Hakkasan Las Vegas and Wet Republic at MGM Grand, as well as Pure at Caesars Palace, Social House at The Shops at Crystals and other oontz-tastic hotspots.

Hakkasan Las Vegas

Hakkasan Las Vegas opened in April 2013 and is 80,000-square-feet of lifelong cochlear and vestibular damage. But lots of people dig it.

AMG has been working with Hakkasan Group for more than two years on the insanely successful Hakkasan Las Vegas Restaurant and Nightclub at MGM Grand. Now, it’s time for AMG to be assimilated.

Not many details of the acquisition are available, but the resulting news release did provide at least one gloriously WTF quote, which is honestly what this Las Vegas blog lives for.

Said Khadem Al Qubaisi, Chairman of Hakkasan Group, “Following a successful partnership with Angel Management Group, we believe the consolidation of its businesses will accelerate Hakkasan’s goal of creating a suite of multifaceted global lifestyle brands.”

“Suite of multifaceted global lifestyle brands” just rolls off the tongue, doesn’t it? Thank you, news release gods.

Pure nightclub

Pure nightclub at Caesars Palace will now be managed by Hakkasan Group. Pure is Hakkasan nightclub’s competition. Which will be awkward if they bump into each other at parties.

What will the acquisition of AMG by Hakkasan Group mean to club-goers? Well, because the costs of managing these nightclub venues will decrease due to increased efficiency, guests can expect a dramatic decrease in the price of cover charges, beverages and table service.

Wow, you were actually believing that for a minute, weren’t you? We thought that whole “just fell off the turnip truck” thing was an urban myth!

Seriously, though, there’s likely to be little, if any, impact on customers. You’re so adorable when you’re gullible like that.

- See more at: http://vitalvegas.com/hakkasan-group-acquires-angel-management-group-amg-assimilation-futile/#sthash.TYyg9Jw6.dpuf
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