The first entrance into the casino business by Howard Hughes Holdings (HHH) represents a considerable expansion beyond the company’s current portfolio of retail, commercial, and residential buildings spread throughout many U.S. states.
To manage its entertainment-related assets in New York and Las Vegas as part of its casino investment, HHH created Seaport Entertainment, a new division. A 80% interest in the air rights above the Fashion Show Mall, which will be the location of the future casino building, is one of these assets.
By the end of 2024, HHH hopes to have spun out Seaport Entertainment into a publicly listed business as part of its ambitious objectives. This tactical choice will provide the newly created organization the independence to operate on its own as a pure-play entertainment business.
A Seasoned Executive to Lead the Charge
To spearhead this exciting venture, HHH has enlisted the expertise of Anton Nikodemus, a highly accomplished figure in the gambling industry. Nikodemus brings nearly 11 years of experience, having held key positions at MGM Resorts International. His most recent roles included serving as president and CCO of City Center and The Cosmopolitan of Las Vegas.
Prior to this, Nikodemus spent over five years as president and COO of the Monte Carlo Resort and Casino. He also assumed the role of senior vice-president of hotel operations at the Bellagio and held the same position at the MGM Grand in Las Vegas.
“The assets of Seaport Entertainment lie at the intersection of real estate and entertainment,” noted HHH CEO David O’Reilly. “Anton brings tremendous experience building some of the country’s most-acclaimed entertainment destinations, and we are fortunate to have him taking the helm of this exciting new division of Howard Hughes.”
The newly appointed CEO of Seaport Entertainment, Anton Nikodemus, stated his excitement for this new task. He stressed the enormous potential that is yet ahead as they take use of special assets in New York and Las Vegas, two vibrant entertainment centres, and look at possibilities for faster expansion.
This tactical change demonstrates Howard Hughes Holdings’ dedication to broadening its line of business and leveraging the expanding casino and entertainment industries.
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