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Travel-booking website Vegas.com which boasts 3.4 million monthly visitors is being sold for $15.5 million in cash and other considerations including stock.
Remark Media announced Thursday it would buy Vegas.com from family owned Greenspun Corp. in a deal expected to close in mid-September.
Brian Greenspun, publisher of the Las Vegas Sun newspaper, Las Vegas Magazine and Las Vegas Weekly, is among Greenspun Corp. shareholders.
A Remark financial filing says the deal includes a $15.5 million cash payment and $9.5 million in Remark stock, $10 million in future stock options and up to $3 million in the next three years based on the website’s performance.
Remark owns a variety of websites.
Remark’s board includes Las Vegas Strip executives connected to the Venetian and Palazzo hotel-casinos, CityCenter resorts and Tao group of nightclubs.
This article was from The Associated Press and was legally licensed through the NewsCred publisher network.