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Last December, when Hakkasan Group bought out portions of The Light Group, Forbes reported that Hakkasan also approached “Tao Group about buying out Tao, Lavo and Marquee, but those negotiations went nowhere.”
Now it looks like Tao Group is officially looking to sell a portion of the company. The Wall Street Journal reports that Tao is approaching potential investors, including private-equity firms, in a deal that could be valued up to $500 million.
Tao’s holdings span Las Vegas as well as New York City and Sydney, Australia. Nightclub & Bar ranked all three Vegas nightclubs in the top 10 nationwide. Marquee at the Cosmopolitan of Las Vegas ranked third with revenues estimated between $80 million and $85 million. Tao at the Venetian ranked fourth with revenues estimated between $50 million to $55 million. Lavo at the Palazzo ranked 10th with $20 million to $25 million in estimated revenues.
Developing.
