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| Jay-Z Selling Stake of 40/40 |
Mogul aims to sell half of his stake for $44 million
Written By: Erica Lamar/ Vibe.com
Posted On: August 14, 2008 @ 9:28 PM PST
Category: Celebrity Gossip
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n Jay-Z’s “44-Fours,” he used 44 metaphors to explain why he came into the game, none being fame and fortune (“not for no fame, nor for bright lights”). He is now in talks to sell his share of the glitzy Vegas nightclub 40/40 for $44 million.
The New York Post reports that the megastar is in talks with the Las Vegas Sands Corporation and has allegedly offered them half of his stake of the club. This move could reportedly give the 40/40 club global appeal.
“That will make the 40/40 club in Vegas the largest sports booking operation,” an insider told the Post. “People can gamble both at the tables and on games. The Sands will also have the right to open 40/40 clubs in London and across Europe.”
The Las Vegas Sands Corporation also owns the Venetian and the Palazzo, two luxury casinos, and the 40/40 is located inside of the Palazzo on the Vegas strip. The grand opening was held in December of 2007, and the chain has continued to expand since its launch in Manhattan in 2003. There are currently locations in Macau, Tokyo and Atlantic City as well.
Jay celebrated the nightclub’s opening with Beyonce and Solange Knowles on December 30, 2007, which was also a birthday celebration for basketball star and Jay-Z’s comrade, LeBron James.
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