VDC-MGG Holdings Acquires Vegas.com from Remark Holdings

May 16, 2019

Remark Holdings sold Vegas.com, LLC to VDC-MGG Holdings LLC (an affiliate of Remark's senior lenders) for an enterprise value of $45 million. The $30 million cash proceeds will be used to pay amounts due to Remark's senior lenders, substantially reducing Remark's debt and enabling the company to focus on its transition to a pure-play AI business.

Buyers
VDC-MGG Holdings LLC
Targets
Vegas.com, LLC
Sellers
Remark Holdings, Inc.
Location
Nevada, United States
Transaction Type
Divestiture

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