| Jay-Z Sells 40/40 In Vegas | 28 Aug '08 - 1:58am |
| After weeks of speculation, Shawn "Jay-Z" Carter and his partners have finally confirmed reports that they are selling their 40/40 Club in Las Vegas for an undisclosed amount.
"The sale is a great business decision; we are delighted. We look forward to expanding the brand even further to Chicago and Tokyo," Carter said in a statement. Carter's partners have also said that the 24,000-square-foot sports bar and lounge in the Palazzo Hotel and Casino will no longer operate under the 40/40 brand, as the sale is for the lease and not the naming rights. Carter and his partners said they still plan to open 40/40 clubs in Chicago, Tokyo and Macau within the next 12 months. The flagship 40/40 Club opened June 18, 2003, in New York and has since become a celebrity hot spot despite legal issues from employees claiming unfair treatment. |
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