Although the success of entrepreneur and hip-hop star Jay-Z’s 40/40 Club was short lived, the closing of this posh sports bar will make room for the new race and sports book that will become a part of the Palazzo. What makes this race and sports book unique is that it will be located in a separate area of the hotel, away from the loud casino. Guests will be able to make bets while relaxing in comfortable lounge chairs and watching games on big-screen TVs. The sports book will even include an upscale restaurant.

Jay-Z opened the 40/40 Club last year, after having great success with the 40/40 club in New York. However, the club did not succeed in Las Vegas and there have been talks that the Palazzo was trying to buy back the space. During the negotiation process, the Palazzo ended up becoming a partner in the 40/40 Club franchise despite its unsuccessful run in the Palazzo. The Las Vegas Sands Corp. plans to help franchise 40/40 Clubs in locations such as Macau, Chicago and other locations across the globe. There have been no reports at to the amount of money that changed hands during this transaction.

The 40/40 Club will be closing in September and the new race and sports book will make a fast transition and open in November. It is rumored that much of the décor and ultra-lounge furniture from the 40/40 Club will remain in the new sports book. Until now, the Palazzo has had its own casino, but not its own sports book. There was only a small betting window outside the 40/40 Club that allowed guests to make sports wagers and then watch the games inside the club. The sport book at the Palazzo will complete their gaming facility. It will also be one of the largest in town at 24,000 square feet. Much of the space will be taken up by a bar and a new restaurant that will serve guests as they watch the games.

Jay-Z insists that the closing of this club will not hurt the 40/40 Club franchise in any way and that this is an opportunity for the franchise to grow elsewhere. The club was a huge success in the beginning with a much publicized opening that took the form of a star-studded Super Bowl event. The club is named after an elite list of baseball players that have hit 40 home runs and stolen 40 bases in a single season. A few of the players who were on the list actually attended the opening of the 40/40 Club in Las Vegas. However, the new sports book will draw in large crowds to the Palazzo and also make much more money for the hotel than the old club was charging to rent the space. The new sports book will open in November and will be one of the largest attractions in the Palazzo as it is billed as being one of the most luxurious and most comfortable sports books in town.

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