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.
- Industry
- Media & Entertainment
- Location
- Nevada, United States
- Transaction Type
- Divestiture
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