Richard Bosworth, the public face of the ownership group that developed Virgin Hotels Las Vegas, will step down at the end of this month as CEO of J.C. Hospitality, the off-Strip property’s management group, according to local media reports.
Bosworth put together and served as the managing partner of the ownership company, which includes Richard Branson’s Virgin Group that acquired the former Hard Rock Las Vegas on Paradise Road and Harmon Avenue for $500 million in 2018.
He then oversaw more than $200 million in redevelopment, which led to the 1,500-room resort’s opening in March 2021. Bosworth will continue to have an ownership stake in the resort, points out The Nevada Independent.
In a statement released Monday, J.C. Hospitality said Bosworth announced his intentions to resign in February. “Bosworth will be taking the next step in his career as he moves on to pursue new ventures in hospitality,” the company stated, and assured he will remain an investor.
Bosworth also brought in Mohegan Gaming, the business arm of Connecticut’s Mohegan Indian Tribe, to operate the casino. The casino was open for almost two years without a sportsbook until Betfred Sportsbook was licensed to oversee sports betting operations in January.
Back in 2015, Bosworth said he was interested in exploring the idea of an integrated resort whose business disciplines are overseen by multiple partners. Three years later, the ownership consortium bought the Hard Rock. The owners included Juniper Capital Partners, Virgin Group, LiUNA, Fengate Asset Management, Dream and Orlando Development.
Virgin Hotels and Hilton Hotel’s Curio Collection oversees the property’s room and suites, Mohegan manages the 60,000-square foot gaming floor and the restaurants are managed by eight operators. Entertainment company AEG operates Virgin’s events center.
Hard Rock closed in February 2020 and had been expected to open later that year, but the debut was delayed because of pandemic-related shutdowns and operating restrictions throughout 2020. Virgin Hotels Las Vegas then opened on March 25, 2021, with an elaborate party that included reality television celebrities.
Original article: https://www.yogonet.com/international/news/2023/03/21/66531-virgin-hotels-las-vegas-ceo-to-step-down-from-role-while-keeping-ownership-stake-in-the-resort
