Tag Archives: Richard Branson

Richard Branson Enters The Casino Game

Richard Branson Enters The Casino Game
Source: Australian Business Traveller

Good old Richard Branson. I put him and people like Elon Musk in the same category. Which is to say, they are both figureheads of gigantic, mega-corporations. When people talk about the Virgin Group brand name, they immediately think of Richard Branson.

But let me just put something into perspective; Virgin Group controls more than four hundred different companies. Four hundred. Stop for a moment and think about how many people, and various completely different companies that is, which technically fall under the umbrella of Richard Branson and the Virgin Group. The man owns Virgin Galactic, for goodness sake, which run space programmes. And at the same time also has Virgin Mobile in his ever-growing list of ventures. Mobile phones and space programmes, that’s Richard Branson. How closely do you think he really personally oversees any of these ventures?

The point I’m trying to make is that he, the person, is pretty far removed from the vast majority of things that are actually linked to him. And this now includes the Hard Rock Hotel And Casino in Las Vegas.

Why Not Casinos As Well?

Richard Branson, sorry, that’s Sir Richard Branson, recently acquired the iconic Hard Rock Hotel and Casino in Las Vegas. He was there personally, of course, and even popped champagne at a press conference. He stated that the venue would be undergoing an enormous facelift, but that the most notable memorabilia of the location would be kept. Namely, the rock and roll museum the location is famous for.

So now Richard Branson also has his face attached to a casino. Do I think he has a deep, personal interest in the project, and that he will be overseeing things? No, I don’t. I think dozens of unnamed people will be doing it on his behalf. After all, he was popping champagne at the Hard Rock Hotel and Casino, not running Virgin Galactic, or any of the other four hundred companies he technically owns.

In other words; why not casinos as well? The man could use another billion on top of his already five billion nett worth, right?

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Good Business

I don’t mean to sound cynical about this, I’m sure the man is pretty damn good at business. After all, you don’t get to be worth five billion by accident. I have no doubt that the new Virgin Hotels Las Vegas will be incredibly well run, and that there is a very good chance that business will be great.

What makes me roll my eyes is that people genuinely attach importance to the fact that “Richard Branson has entered the casino game.” The man owns Virgin Galactic, I will again repeat. He entered the space-flight industry, technically, why would it make anyone sit up and take notice that he now owns a casino?

Of course he now owns a casino. Casinos are good business, and since I have no idea how Virgin Galactic turns a profit, he certainly wont say no to the steady stream of income a casino provides. If anything, a casino strikes me as a much better investment than space flight. How the hell does he make money from Virgin Galactic?

Las Vegas – Always Changing

So Las Vegas is always changing. In fact, it never stops changing. The Hard Rock Hotel and Casino has changed hands a number of times already, with Richard Branson only being one in a string of new ownerships. As always, the face of Las Vegas keeps evolving, and will continue to evolve. This is the nature of Las Vegas.

I am genuinely interested to see how the Virgin Hotels Las Vegas does, and what could possibly be done to draw interest. Other than the fact, of course, that Richard Branson has now attached his face to it. It wouldn’t be surprising at all if the venue changed its face again in a few years.

2020 – Boom Year For Vegas

Although, Vegas is due for another boom in the near future, with 2020 being declared as the year that the area will see a number of new projects being launched. The state of the art Sphere Las Vegas is due in 2020, as I recall. And, now that I think about it, the Virgin Hotels Las Vegas is due to open in late 2019. Just in time for this latest boom.

So it all starts to come together, and reasons for Branson’s interest are now more obvious. As I said, you can’t fault the man for being good at business. In fact, if a man worth five billion does something, you can be sure that the location in which he is doing that thing is soon to be drowning in money.

That being said, I Googled Virgin Galactic, and it turns out the company doesn’t turn a profit. But given what I just said, my guess is space tourism is soon to be drowning in money.