Popular Las Vegas nightclub KAOS is closing one month after dropping Marshmello’s $60 million deal
KAOS Nightclub and Dayclub, which is part of the Palms Casino and Resort, signed Marshmello to the contract in April and was rumored to be paying the artist as much as $600,000 each performance weekend; in late September, the club released the DJ from the contract early, amid several abrupt. While Tuesday’s closure announcement did not name specific deals or acts, the Palms’ parent company, Red Rock Resorts, said that its decision was based off untenable entertainment expenses.
Red Rock Resorts, which owns both the Palms hotel and KAOS, reported a $26.8 million net loss in its third quarter on Tuesday, and its CEO Frank Fertitta said on an investor call that market conditions for Vegas nightclubs have been difficult. It “doesn’t appear that the market has grown enough for the amount of supply,” he said, and “the cost of entertainment is excessively high and we just made the decision to focus where the fish are.” A press releasethat the $26.
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