The Stephens Media Group has licensed its LasVegas.com site to a new company owned by hotel and casino companies. Stephens’ Las Vegas Review-Journal will continue to contribute news and community information to the site.
Terms of the deal were not disclosed, but the Review-Journal reported that Stephens will receive a percentage of hotel bookings generated by the site.
The new company, LasVegas.com LLC, is jointly owned and operated by Mandalay Resort Group and Park Place Entertainment Corp., both of which own numerous hotels and casinos in Nevada. The companies said the new site, expected to launch by the end of the year, would make it easier for visitors to directly book hotel rooms and make other travel arrangements online. The companies said they would invite other Las Vegas hotels to list their properties on the site.
Stephens CEO Sherman R. Frederick told the Review-Journal, “The benefit for the company is we are aligning ourselves with two of the largest gaming companies in the world who provide the one thing we can never provide, which is inventory.” Frederick is also publisher of the Review-Journal.