Vegas.com (business) sold for $240M

Vegas.com

BusinessInsider.com reported that Vegas.com (the business) was purchased for $240 million.

Back in 2015 TheDomains.com reported:

Publicly traded Remark Media, Inc. (NASDAQ:  MARK) announced today they entered into an agreement to buy Vegas.com in a deal that could be valued up to $38 Million dollars.

Vegas.com which is privately owned is a online booking company for all things Vegas.

Under The terms of the proposed deal, which is subject to approval by shareholders of Remark Media (Remark),The Greenspun Corporation, the owners of Vegas.com would get:

$15.5 million in cash

$9.5 million in shares of stock in Remark.

$10 million in five-year warrants to purchase shares of common stock in Remark at an exercise price of $9.00 per share and

Up to a total of $3 million in Earn out payments based on the performance of Vegas.com in the years ending December 31, 2016, 2017 and 2018

Vivid Seats Inc (NASDAQ:SEAT), an online platform for event ticket sales, is venturing further into the entertainment capital, Las Vegas, with an acquisition valued at approximately $240 million.

The deal involves the purchase of Vegas.com, a service offering Las Vegas visitors assistance with show tickets, tour bookings, and travel accommodations.

The transaction is structured to include $151.2 million in cash coupled with $88.8 million in Class-A common stock of Vivid Seats.

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