JAY Z is reportedly in negotiations to sell a stake of his Las Vegas 40/40 night club for an estimated $44 million.
According to The New York Post, the Brooklyn rapper wants to offer a 50% stake of his popular nightspot to the Las Vegas Sands Corporation.
The company owns the Palazzo Resort Casino where the Las Vegas 40/40 is located.
An insider revealed to The Post that the deal will help expand the 40/40 franchise. Jay-Z has other 40/40 nightclubs located in New York and Atlantic City.
“That will make the 40/40 club in Vegas the largest sports booking operation,” said the insider. “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.”
In related news, Jay-Z is currently working on his eleventh album titled Blueprint 3. The rapper gave fans a taste of what to expect from the project with a performance of a new song called “Jocking Jay-Z" at Madison Square Garden last week. [Watch Jay-Z Perform "Jocking Jay-Z"]
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