LA Business Journal
Monday, March 7, 2011
Sam Nazarian is placing his bets on Las Vegas – again.
The L.A. entrepreneur announced last week that his nightlife and hospitality company, SBE LLC, plans to open a Hyde Lounge at the Bellagio Resort & Casino on New Year’s Eve. Nazarian already owns the Sahara Hotel & Casino in Las Vegas, which he purchased for about $350 million with a partner in 2007 and had planned to renovate before the recession hit.
Nazarian is looking to join Vegas’ booming nightclub scene, famous for celebrity-dotted, opulent parties. He said in a statement that SBE will be introducing a new kind of nightlife to Sin City.
“We’ve secured one of Vegas’ most prestigious locations and will usher in a new and definitive chapter in nightlife on the Strip,” he said.
The newest Hyde will be in the Bellagio’s Fontana Bar space, which overlooks the hotel’s famed dancing fountains. Designer Philippe Starck will redesign the 12,000-square-foot venue to include indoor and outdoor areas that will serve as a lounge until the nightclub opens at 10 p.m.
The Vegas outpost will be the fourth Hyde for SBE, which already operates locations in Hollywood, at downtown L.A.’s Staples Center and at the Mammoth Mountain ski resort. There are plans to open a Hyde in Miami next March.
