By Michael E. Miller
By Allie Conti
By David Villano
By Jose D. Duran
By Michael E. Miller
By Allie Conti
By Kyle Swenson
By Luther Campbell
"There is a wave of interest in attending concerts that has less to do with the specific music and more to do with the experience attached to the music," he told the Times.
Not all of Sillerman's ventures have panned out as well as his entertainment businesses.
Construction of a luxury resort on the Caribbean island Anguilla stalled in 2008 after the developer couldn't find additional lenders or buyers. Sillerman began the project in 2002, investing up to $180 million of his own money. The development was to include a 32-room hotel and 78 villas. He already had deposits from Simon Fuller, creator of American Idol, and Da Vinci Code author Dan Brown for the resort houses. Credit Suisse Group seized the property in 2010.
1235 Washington Ave.
Miami Beach, FL 33119
Category: Bars and Clubs
Region: Out of Town
Sillerman also saw plans to build an Elvis Presley-themed casino/hotel in Las Vegas turn sour after financial markets collapsed in 2007 and 2008. His company, FX Real Estate Investors, defaulted on a $475 million loan for a 17.2-acre plot and later filed for bankruptcy. Sillerman was sued by investors for $150 million, claiming he and company insiders were engineering to wipe out shareholders' investments while retaining ownership of the property, according to Bloomberg News. The case was settled in early 2012 for $950,000, according to VegasInc.
Talknightlife, an online forum that follows Miami nightlife rumors, broke the news of Sillerman's involvement on January 11 when it posted a photo of a city notice that had been pasted outside Mokai on 23rd Street. The notice announced that there would a public hearing on January 22 regarding changing the name on the club's permit to SFX-Mokai Operating LLC. Two days later, Talknightlife published a second picture of a similar notice — again, about changing the permit to include SFX's name — outside Set, located on Lincoln Road.
News also broke last week that Sillerman has purchased the North American division of Holland-based ID&T Entertainment, a company that produces over-the-top EDM events called Sensation White across Europe. ID&T also produces Tomorrowland, a massive EDM festival held in Belgium each summer.
Yet the worry remains for the individual ticket buyer that the consolidation of EDM could lead to less variety and higher prices.
"I think that for consumers, it's not the greatest thing," said Aramis Lorie, partner at downtown Miami club Grand Central. "It eliminates the competitive nature of the business."
Jose D. Duran contributed to this report.
Recap from this weekend ::: Liv was dead, Mansion was dead, Story (bc it's always a long story to get through the door) was super dead. Glad to see everyone is happy.
Soon they're going to look like the clubs from Batman Beyond... see if anyone catches THAT reference lol
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OG and Aramis are right. This might not be good in the long run. Monopolies aren't a good thing. I know some vendors and they're not digging this.
And thanks New Times for properly citing us over at TNL. We might get into petty arguments on occasion, but you guys have always been cool with us regardless. We're fans over here in 'the community'!