This Company Looks To Bring A Taste Of Argentina To Las Vegas

Picture credit: Angelica Reyes on Unsplash

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Gaucho Group Holdings Inc. VINO, a luxury brands company that includes fine wine, leather goods and accessories, clothing, and exclusive accommodations in Argentina, is increasingly turning its attention to its presence in Las Vegas.

The Miami-based company, whose portfolio includes a luxury hotel in Buenos Aires and high-end real estate in the wine-growing region of Mendoza, Argentina, has committed $7 million to a multifaceted project in Sin City that will likely include a boutique hotel, retail outlets, dining options, and gaming.

The company raised a final $3.5 million toward the yet-to-be-built project in November after putting forward the same amount in two separate installments earlier in 2021. In total, Gaucho expects to invest $35 million for a 40% ownership stake in the project.

The project, which aims to include a Gaucho-branded boutique hotel, hospitality lodging with residential leasing, a Gaucho retail store featuring the company’s leather goods, and an Argentinian steakhouse, is proceeding in conjunction with a Texas-based group, LVH Holdings LLC. Plans also call for offering tango shows at the steakhouse as well as a wine bodega featuring the company’s Algodon wines from its winery in San Rafael, Mendoza.

“We are very excited about this advancement of what has the potential to become an extraordinary mixed-use complex with world-class partners at an ideal moment in time when Americans and the world are eager to have fun,” Gaucho Chairman and CEO Scott Mathis said. “The Gaucho brand and goods will be a prominent part of this enterprise. We could not be more excited about our participation in this game-changing project.”

Developing the Las Vegas project provides Gaucho with another opportunity to raise its brand profile, company Director Bill Allen said. “We believe our Las Vegas project can become a major draw in the market while introducing the Gaucho name and brands to the world,” Allen said. “The Las Vegas Strip is one of the most recognizable and visited destinations in the United States and beyond, with some of the most significant luxury and commercial brands showcased there."

It’s Tough Out There

The bar is high given the competitive landscape in Las Vegas. Major casino, hotel, and resort operators in the city include MGM Resorts International MGM and Las Vegas Sands Corp. LVS.

Attempting to offer such an entertainment and lifestyle project in such a competitive environment won’t be easy, but Gaucho and LVH believe they have the right project and team to deliver.

“We have assembled an all-star team of industry leaders and visionaries to work together to deliver one of the most transformative and attractive lifestyle and leisure, entertainment, gaming, and hospitality concepts ever conceived of in Las Vegas,” said LVH partner Mark Advent, whose other projects in Las Vegas include the New York, New York casino hotel.

This post contains sponsored advertising content. This content is for informational purposes only and is not intended to be investing advice.