As part of the project, HHH has formed Seaport Entertainment. The new division will oversee its entertainment-related assets in New York and Las Vegas. These include an 80% interest in the air rights above Fashion Show Mall – the intended location of the new casino.
HHH is planning to spin off Seaport Entertainment as a publicly traded company by the end of 2024. This, HHH says, will allow the new company to operate independently as a pure-play entertainment enterprise.
To support the venture, HHH has appointed highly experienced gambling executive Anton Nikodemus as CEO of Seaport Entertainment.
“The assets of the Seaport Entertainment lie at the intersection of real estate and entertainment,” HHH CEO David O’Reilly said. “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.”
Nikodemus added: “I am excited to lead this new division of Howard Hughes and join the outstanding team that is forming Seaport Entertainment".
“There is tremendous opportunity ahead as we harness the potential and unlock the value inherent in these one-of-a-kind assets located in New York and Las Vegas – two of our country’s most dynamic entertainment destinations – and pursue new opportunities for accelerated growth.”
Source: iGB
