Penske Media Corporation (PMC), the parent company of Billboard and Rolling Stone Magazine, is inquiring about a potential site for a new “Rolling Stone”-branded casino and hotel in Las Vegas.
PMC is considering the Downtown Grand Hotel & Casino as a possible site for its new casino venture. The CIM Group owns the site and stated that several potential buyers, including PMC, are interested in the property.
Rolling Stone and its sister brands have been looking for strategic ways to invest in opportunities to create branding extensions. In March, Rolling Stone opened Rolling Stone Presents: Amplified, a 360-degree immersive experience in Las Vegas.
PMC currently produces more than 300 live events annually and has several events scheduled for Las Vegas. They have also mentioned inquiring about other properties worldwide and plan to bring the Rolling Stone name to the adult gaming industry.
A spokesperson for Penske Media stated, “We are committed to growing our international and domestic footprints in both experiential and hospitality for Rolling Stone. As producers of over three hundred events annually across the portfolio, Las Vegas, like other entertainment centers, remains an important market for us.”
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Local gambling laws do not outlaw online casinos; however, state laws do outlaw operating an online casino from within state lines. While domestic sportsbooks from state-licensed casinos can operate online, casinos have not been given the same permissions.
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