Yesterday, Jay Z announced the sale of “his” Las Vegas 40/40 sports bar less than a year after it opened.
In reality, Jay Z never really owned that club. If he was the owner he wouldn’t need partners. He would hire people to run the club for him. Instead, he is simply the mouthpiece for the real owners of the club who are probably wishing they never hooked up with him in the first place. Reports are that the establishment never turned a profit.
Jay Z also announced he and his “partners” will open other 40/40 clubs in Chicago, Tokyo and Macau. But let’s see if that actually happens. You couldn’t get a penny out of me as an investor if one of your establishments failed so famously. Look for the NY location to be shuttered next.
Anyone who thinks Jay Z (lol) is a business man obviously has no clue of what an endorsement deal is or the nature of big business. Anyway, let Wooohah.com tell it:
While the official press release spins the sale of the 40/40 Club as a good thing for Jay-Z, numerous business publications reveal that the sale was a necessity due to heavy financial losses that the Palazzo and Jay were both taking. The reality is that the Palazzo Las Vegas bought out the lease from the 40/40 so that they could finally turn a profit on the space and turn it into a restaurant and race and sports book facility.
Not everyone is taken in by the smooth talk and the fancy press releases.
not everybody can afford to go to these places and pay top dollar for bottles of wine and champagne. maybe if his target was different he could make money.
Hard times for all!
JMO,
VIPATLSTYLE
I still love me some Jigga. “Jigga what, Jigga who”
LOL!
who cares…he is farrrrrrrrrr from broke though!
Cold beans…but hey maybe it was the right business move for him. Besides, he’s opening one up in Tokyo and (???) forgot the other place. He is a smart man. Good luck, Jay.
GM all>>>just clocking in :/
oh well, its not like Jay is gonna go broke from this. but on another note, i believe the 40/40 is too hyped up anyway because i heard from several people who have been there that its not all its cracked up to be. i guess people have different expectations of it or maybe they think they’re gonna walk in there and see mad celebs or somethin, lol…
I agree with PAGESINADIARY not everybody can afford that high price azz bar, I dont feel bad for the camel he still has money that I dont have. Good luck on the rest of your adventures!
Gm! Mzsuave *** u just checking in*** Im just now started doing some work..LOL!
^^^^ See…Mizzdallas….we gone mess around and get fired lol
If u look at the website to the club and look at the prices you’ll see why it’s closing. i live in las vegas and wanted to go to the club but the prices for everything were too damn high. We were going to give my best friends little gathering there and a table with bottle service for 8 was over $1500. I love jigga my Ninja too but Dayum… lol we just ment to Poetry(located in the forum shops) in stead which is one of the best nightclubs in las vegas
@Sandra
I’m a big Jay fan but things are bad out in Vegas all up and down the strip. I was out there earlier in the year and every where we went people were talking how slow it was everywhere. Normally in Vegas bad economic times don’t effect right now things are bad Vegas at the top of the list when it comes to foreclosures. The only clubs in Vegas that are still doing good right now are Pure and Tao.
Jay Z doesn’t realize his clientele is just not upscale. people with real class aren’t going to a rappers bar.
@Sandra
I’m a big Jay fan but things are bad out in Vegas all up and down the strip. I was out there earlier in the year and every where we went people were talking how slow it was everywhere. Normally in Vegas bad economic times don’t effect Vegas but right now things are bad. Vegas is at the top of the list when it comes to foreclosures. The only clubs in Vegas that are still doing good right now are Pure and Tao.
I see you JOCK’IN Jay-z. Ive been to the NY location many times. Its no more exspensive than any other NY bars. NY is just exspensive period. Personally, I dont think that one will close. I dont think Jay is too concerned word is he made a huge amt of cash in the sale, thats good for someone who does not OWN the club as you pointed out.
He was the owner when the waitresses made their statements about the issues they had though right? Go figure.
I live in Vegas, the 40/40 was a nice spot for a change that would be considered a hip-hop club. Us “locals” thought it was only poppin on Sat nights. Everytime I had been there it was either free for me or only $20. Now the tables were another story cause you would just look at the seats if you couldn’t afford freakin $1000+ and bottles. Other spots around town are kind of bogus but the layouts are killer but you have to sit and watch dumb skinny blondes dance on a pole or old asians who want to live the fast life. I need diversity with a splash of chocolate (black folks).
BTW, yeah Jay-Z doesn’t really own that place…it’s like a married couple who ballin’ out of control and just wanted his name and face on it.