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Breaking: Hakkasan Consumes the Vegas Nightlife Scene with a Light Group Blockbuster Buyout

Forbes reports that Hakkasan will take over Morgan's share of Light Group for $40 million.

1OAK Nightclub
1OAK
The Light Group

A blockbuster deal is about to dramatically change the nightclub scene in Las Vegas. Forbes reports that Hakkasan Group "is set to acquire Morgans Hotel Group’s stake in Light Group, the operator of Vegas nightclubs including Light and 1 OAK."

All comes after a week of rumors flitting about on social media that the landscape of the nightlife scene would be shaken up soon. While neither Light Group nor Hakkasan commented on the potential deal, Forbes says, "[t]he deal could be valued at more than $40 million in cash and debt, with Hakkasan taking control of about 20 restaurants and clubs in Las Vegas, Los Angeles and Miami."

Morgans owns 90 percent of Light Group from a 2011 deal for $46.5 million in cash and debt.

Hakkasan’s desire to dominate the nightlife scene started when it bought out Enlightened Hospitality Group earlier this year, then struck a deal with MGM Resorts to build non-gaming hotels. Forbes also reports that Hakkasan approached nightclub behemoth Tao Group about buying out Tao, Lavo and Marquee, but those negotiations went nowhere. 

In 2015, Hakkasan plans to open Omnia in the former Pure Nightclub space at Caesars Palace as well as Searsucker from Top Chef finalist Brian Malarkey.

If the deal goes through, it could also mean that Hakkasan takes over Light Group’s restaurants including Yellowtail, Kumi, Fix, Stack, Red Square, Citizens and the newly opened Hearthstone Kitchen & Bar, although a source close to the deal tells Eater Vegas that the restaurants may not be involved. Light Group’s other nightlife outlets include The Bank, Revolution, Gold Lounge, Deuce, the new Alibi at Aria, Daylight, Bare Pool and Liquid. Light Group's Haze Nightclub shuttered on Nov. 1 at Aria.

For now, a source tells Eater Vegas that this isn't a done deal. Stay tuned for more on this developing story.

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