Two mammoth hospitality and entertainment companies are in midst of negotiations, discussing a merger: SBE Entertainment has confirmed that it is in “advanced talks to combine” with the Hakkasan Group, which would create one enormous company worth a whopping $1 billion.
That translates to one heck of a lot of bottle service and paid celebrity appearances. According to SBE, the intention is to bring the Hakkasan properties into the SBE fold. 702 ENT wanted to give a quick recap of what’s happening:
Hakkasan Group
Best Known For: The eponymous leading brand is Hakkasan, an upscale Chinese restaurant chainlet with a Michelin-starred location in London, a location in NYC (that had an $888 abalone dish on its debut menu), plus locations in SF, Miami, Dubai, Abu Dhabi, and, of course, Las Vegas.
Other Noteworthy Facts: Hakkasan also operates Top Chef alum Brian Malarkey’s Searsucker and Herringbone restaurants. In LA, Hakkasan is the power behind the restaurant Ivory on Sunset.
Why does SBE want them?
Well Vegas, baby! Need we say more? Hakkasan has a giant footprint in Sin City, including its Hakkasan Club and 1 Oak, which might be familiar to you from its frequent role as backdrop/provider of “hosting” gigs for the stars of Keeping Up With the Kardashians. Other Vegas Hakkasan Group clubs include Liquid Pool Lounge, Alibi Cocktail Lounge, Jewel Nightclub, plus restaurants like Yellowtail and Stack.
About SBE Entertainment
Best Known For: being the owners of both SLS and Mondrian hotel chains, SBE is also a partner on the Bazaar by José Andrés restaurants and Umami Burger.
Other Noteworthy Facts: This is also the company behind the curtain of the Katsuya restaurant chain, and the Redbury and Delano hotel chains, plus some uptown properties. What’s more SBE even put its name on an iconic LA building.
Why does this merger matter?
Well, because Vegas. It’s as simple as that. By absorbing the Hakkasan group, SBE becomes a major restaurant and nightclub player in Vegas. The union would also let SBE put Hakkasan Group dining properties into forthcoming hotel developments.
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