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MB BC Limited Sues Hakkasan Group Alleging Monopoly

By Chuckmonster on Monday, 3rd August 2015 12:20pm
  » filed under Las Vegas  comments: 4


New developments have arisen related to the rumored sale of 1OAK, The Bank and other former Light Group assets recently acquired by Hakkasan Limited.

The New York Post Page Six is reporting that MB BC Ltd., a group which owns (owned? see below) Light and Daylight clubs have sued Hakkasan for what amounts to uncompetitive business practices.

...hospitality company MB BC Limited (which owns Daylight) claimed Hakkasan, while still managing their venue, diverted customers away, and lured DJs and promoters to work at Hakkasan clubs, forcing employees to sign non-compete agreements.

Who (or what) is MB BC Limited, exactly?

MB BC L.L.C. is the holding company that owned Daylight and Light nightclubs at Mandalay Bay. Relatedly MB BC Holdings L.L.C. was held by Andrew Sasson and MB BC MANAGEMENT LLC was held by Andy Masi before their holdings were acquired by Morgans Hotel Group.

According to SEC filings, these are the MB (Mandalay Bay) prefixed corporations that were held by Morgans Hotel Group. MB BC Limited isn't specifically listed.

MB BC Management LLC
MB Las Vegas Holdings LLC
MB Venues LLC
MB/RS Las Vegas LLC
MB/RS Venues LLC
MB/RS Venues LLC
MB\CG Las Vegas LLC

If Hakkasan bought The Light Group and all of its holdings (including Daylight & Light) isn't HK allowed to do whatever it wishes with properties it owns - cherry pick talent bookings, gut staffing, rejigger everything - short of lighting the place on fire?

It is possible that MB BC Limited is a consortium of non-Light Group minority interest investors in the Daylight/Light projects who are watching HK eviscerate their investment with no say or chance to recoup their investment. Who could these investors be? The short list of guesses include Cirque du Soleil, MGM Resorts International or other well heeled moneymen who like to do battle in the gossip pages.

I'm guessing there is a lot more to the story than was mentioned in the The New York Post. We've contacted the author of the Post's article to try and retrieve a copy of the original complaint between MB BC Limited and Hakkasan Limited. So far, nothing.

You know something? Get in touch: tips@vegastripping dot com

Tagged: hakkasan   light group   mandalay bay   daylight   light   neil moffitt   


Comments & Discussion:

The legal spat hasn't yet made its way into the federal courts, but I anticpate we see it surface soon.

Would MGM go to war against one of it's biggest tennants?

So when is the class action against Hakkasan going to be filed? Sounds like they are going to lose a lot of money. If Hakkasan was a stock I would short them. They are going to be gone soon when all the legal comes out about their "questionable" business practices come to light.

I would say the cat is already out of the bag if this article I found on Facebook is true to fact, many dark days ahead me thinks.


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