Remark Media Acquires Vegas.com; Terms Not Disclosed
Remark Media (NASDAQ: MARK) today announced the acquisition of Vegas.com, the premiere online travel booking site for the Las Vegas market. Terms of the deal were not disclosed, but Remark will expand the well-established brand's presence through the development of key partnerships, Remark's goal is to make Vegas.com the go-to booking destination for new millennial travelers.
"Since its inception, Vegas.com has acted as a trusted marketplace for travelers seeking a world-class experience in Las Vegas," stated Kai-Shing Tao, Remark Chairman and CEO. "Remark will continue the tradition while also expanding the site's reach to include key partnerships targeted towards the millennial generation."
Remark is currently working on deals that will be announced after the acquisition is finalized in mid-September. Piper Jaffray & Co. served as exclusive financial advisor to Vegas.com on the transaction.
"Vegas.com has built an enviable franchise of travel and entertainment offerings and this combination creates a uniquely positioned company," said Vegas.com CEO, Steven McArthur. "With this transaction, Vegas.com is excited to continue providing outstanding service and to accelerate the business."
Since 1998, Vegas.com