Plans now call for the Hard Rock, a mile east of the Strip at 4455 Paradise Road, to be rebranded as a Virgin property by the end of 2019. The Hard Rock opened in 1995, and developer Peter Morton reached a deal in 2006, during the bubble years, to sell it for $770 million in cash. The buyers paid a lot less for the resort than prior owners.

The purchase was backed by a $200 million loan from JPMorgan Chase Bank, property records indicate. The Hard Rock - whose sales price wasn’t announced at the party-like news conference March 30 or in Virgin’s press release - traded for about $500 million, a source familiar with the matter said this week. And while the flamboyant British billionaire captured the spotlight for the deal, much of the new ownership, in fact, hails from Canada. “But I’m sure somebody can let you know some other time.” “We’re not going to make this a boring business talk,” Branson replied. Patrick Connolly Las Vegas Review-Journal Virgin Group founder Richard Branson was at the Hard Rock Hotel last week to announce the resort’s purchase, yours truly asked during a Q&A what it sold for and who the majority owner is. Virgin Group Founder Sir Richard Branson prepares for a champagne toast at a press conference at the Hard Rock Hotel in Las Vegas on Friday, March 30, 2018.

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