Jay-Z sells bar
- Bang Showbiz
- 14 August 2008
Jay-Z is reportedly set to sell part of his upmarket sports bar chain 40/40 for $44 million.
The rapper is said to be in talks with the Las Vegas Sands Corporation - who own the renowned Venetian Resort Hotel Casino and its extension The Palazzo, which houses a 40/40 club - to sell them 50 per cent of his company.
A source told the New York Post newspaper: "That will make the 40/40 club in Las Vegas the largest sports booking operation. 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."
Jay-Z is one of the most financially successful hip-hop artists in the world.
He co-founded the Roc-A-Fella empire, which includes record labels Roc-A-Fella Records and Roc-La-Familia, Roc-A-Fella Films and urban clothing line Rocawear.
In March 2007, he sold the rights to the Rocawear brand for a reported $204 million.
The musician owns part of the New Jersey Nets basketball team and is said to be in the process of negotiating a contract with concert promoter Live Nation, worth a reported $150 million.
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