Gaucho Group Holdings, Inc.
22.7.2021 16:57:30 CEST | ACCESS Newswire | Press release
NEW YORK, NY / ACCESSWIRE / July 22, 2021 / Gaucho Group Holdings, Inc. (NASDAQ:VINO), a company that includes a growing collection of e-commerce platforms with a concentration on fine wines, luxury real estate, and leather goods & accessories, today announced it has made a $2.5 million milestone payment to LVH Holdings LLC to advance the previously announced agreement to develop a project in Las Vegas, Nevada.
The payment of $2.5 million is an installment in what is expected to be a total commitment of $35 million for a 40% ownership in a project that will expand the Gaucho brand in ways that could include opportunities in lodging, hospitality, retail, and gaming. SB Architects, an international architecture and design practice with offices in San Francisco, Miami and Shenzhen, leads the design of this project. Mark Advent, a partner in LVH holdings, and the creator of the highly popular New York New York hotel and casino, is the creative visionary working directly with SB Architects.
Scott Mathis, CEO & Chairman of Gaucho Holdings commented, "We're delighted move this project to the next stage. This Las Vegas project has the potential to become a major draw in the market while transforming the Gaucho brand into a household name. We're excited to know that LVH Holdings has been working with SB Architects to lead the design. SB Architects are specialists in hotel and hospitality design, with major projects that include the Omni PGA Frisco Resort, Amara Hotel and Residences, and Dorado Beach, a Ritz-Carlton Reserve, as well as Calistoga Ranch, an Auberge Resort, among others. As we've said before, we're seeking the best, and we are getting the best. If this project comes to fruition as we expect, it can have a positive transformational effect on the market value of Gaucho Holdings. Stay tuned."
Bill Allen, one-time CEO of Bloomin' Brands and recently named to Gaucho's board of directors added, "With each new agreement, services engagement, or transaction, we move one step closer to the execution of our strategy to bring a premier, Gaucho-infused property, including our wines, to the Las Vegas market. We look forward to announcing to our shareholders new developments as they occur in this exciting retail, hospitality and potentially gaming project."
Mark Advent added, "We are excited to move forward with Gaucho, and to play a role in bringing Gaucho's products and vision to the U.S."
About Gaucho Group Holdings, Inc.
For more than ten years, Gaucho Group Holdings, Inc.'s (gauchoholdings.com) mission has been to source and develop opportunities in Argentina's undervalued luxury real estate and consumer marketplace. Our company has positioned itself to take advantage of the continued and fast growth of global e-commerce across multiple market sectors, with the goal of becoming a leader in diversified luxury goods and experiences in sought after lifestyle industries and retail landscapes. With a concentration on fine wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com), and luxury real estate (algodonwineestates.com) associated with our proprietary Algodon brand, as well as the leather goods, ready-to-wear and accessories of the fashion brand Gaucho - Buenos Aires™ (gauchobuenosaires.com), these are the luxury brands in which Argentina finds its contemporary expression.
Cautionary Note Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. Statements other than statements of historical facts included in this press release may constitute forward-looking statements and are not guarantees of future performance, condition or results and involve a number of risks and uncertainties. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The Company undertakes no duty to update any forward-looking statement made herein. All forward-looking statements speak only as of the date of this press release.
Media Relations:
Gaucho Group Holdings, Inc.
Rick Stear
Director of Marketing
212.739.7669
rstear@gauchoholdings.com
Investor Relations:
TraDigital Investor Relations
John McNamara
917-658-2602
john@tradigitalir.com
SOURCE: Gaucho Group Holdings, Inc.
View source version on accesswire.com:
https://www.accesswire.com/656664/Gaucho-Group-Holdings-Inc-Makes-Milestone-25-Million-Payment-to-LVH-Holdings-LLC-to-Advance-Las-Vegas-Project
To view this piece of content from www.accesswire.com, please give your consent at the top of this page.
About ACCESS Newswire
Subscribe to releases from ACCESS Newswire
Subscribe to all the latest releases from ACCESS Newswire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from ACCESS Newswire
Karbon-X (OTCQB:KARX) Accelerates High-Margin Transformation in Q1 FY2027: Gross Margin Expands to 32%, Operating Cash Burn Drops 55%, and Deferred Revenue Reaches $4.3 Million22.10.2026 13:45:00 CEST | Press release
CALGARY, AB / ACCESS Newswire / October 22, 2026 / Karbon-X Corp. (OTCQB:KARX) ("Karbon-X" or the "Company"), a global carbon and environmental markets company, today announced its financial and operational results for the first quarter of fiscal 2027 (ended August 31, 2026), following the filing of its Quarterly Report on Form 10-Q. The quarter was highlighted by a significant expansion in gross margin to 32%, a 55% reduction in net operating cash use, and continued momentum across international project development and advisory engagements. Through disciplined execution, Karbon-X has shifted its commercial mix toward higher-margin, value-added environmental consulting and project commercialization, strengthening its operational foundation for sustainable, long-term growth. First Quarter Fiscal 2027 HighlightsSubstantial Gross Margin Expansion: Gross margin rose to 32%, compared with 0.8% in the prior-year period, reflecting a higher-margin revenue mix centered on technical advisory an
Chervon Appoints Stephen Sarnocinski to President - End User Research, Sales and Service - OPE Commercial Landscaping Market Global21.10.2026 16:00:00 CEST | Press release
NAPERVILLE, IL / ACCESS Newswire / October 21, 2026 / Stephen (Sarno) Sarnocinski is named President - End User Research, Sales and Service - OPE Commercial Landscaping Market Global, effective October 20, 2026, reporting to Joe Galli, CEO. Sarnocinski brings 21+ years of extraordinary experience, performance and leadership to Chervon. He is a high-potential senior executive with an exciting future ahead at Chervon. Sarno will now assume a new role at Chervon focused on pioneering and developing the OPE Commercial Landscaper User Vertical. Sarno was most recently a Senior Vice President - Job Site Solutions for TTI/Milwaukee, leading the Utility, Energy, Communications and Mining Verticals. Over the past 10 years he has held increasingly responsible JSS positions in the Eastern USA. Before his JSS role, he was responsible for Milwaukee East Coast Service Operations. He started his TTI/Milwaukee career rising through a series of store coverage and territory management positions. Before
DataTracks Launches Nova, Filing Software that Takes UK Micro-Entities Through HMRC and Companies House on One Set of Figures21.10.2026 15:45:00 CEST | Press release
LONDON, UK / ACCESS Newswire / October 21, 2026 / DataTracks, the regulatory reporting software and services provider, has launched DataTracks Nova, software that prepares a UK micro-entity's accounts and Corporation Tax return from a single set of figures, produces the iXBRL that HMRC requires now and Companies House will require from 1 April 2028, and files the CT600 with HMRC. Companies House accounts filing runs from the same data in the same product. Until 31 March 2026, many smaller UK companies with straightforward affairs had a free way to do this themselves. CATO (Company Accounts and Tax Online) was a free HMRC online service, run jointly with Companies House, that let a company prepare and submit its own Corporation Tax return and accounts through a simple web form, with no software to buy and no accountant needed. It was only open to companies filing without an agent. HMRC closed it on 31 March 2026. Since 1 April 2026, companies have generally had to use commercial softwar
Fermi Provides Letter to Shareholders from CEO Lee McIntire on Financing Fermi's Next Chapter21.10.2026 14:30:00 CEST | Press release
DALLAS, TX / ACCESS Newswire / October 21, 2026 / Fermi Inc. (NASDAQ:FRMI)(LSE:FRMI), operating as Fermi America™ ("Fermi" or the "Company") today provided the following letter to shareholders from CEO Lee McIntire: Dear Fellow Shareholders, We are living through an extraordinary moment in the development of American infrastructure. As artificial intelligence reshapes industries and economies, reliable power has become one of the most strategically important and sought-after assets in the world. Fermi was founded with this opportunity in mind. At Fermi's Project Matador, we are pursuing one of the most ambitious power and infrastructure developments in the country, designed to deliver the scale and reliability required by the next generation of computing. Throughout my decades in global infrastructure and construction, I have learned that creating a successful infrastructure business requires more than assembling valuable assets. It requires judgment and financial discipline to turn th
PFN and Tenstorrent Selected for NEDO Project on "xPU Design and Development Incorporating Photonics Electronics Integration Technology"21.10.2026 14:00:00 CEST | Press release
TOKYO, JP / ACCESS Newswire / October 21, 2026 / Preferred Networks, Inc. (PFN) and Tenstorrent USA, Inc. (Tenstorrent) have announced today that their joint proposal has been selected by Japan's New Energy and Industrial Technology Development Organization (NEDO) for the theme "xPU Design and Development Incorporating Photonics-Electronics Integration Technology" (*1) under the NEDO-sponsored "Research and Development Project of the Enhanced Infrastructures for Post-5G Information and Communication Systems / Development of manufacturing technologies for advanced semiconductors." AI models and workloads continue to increase in size and computational complexity, and are being adopted across a wide range of industries. This rapid growth has further increased the compute needed for model training and inference, driving demand for more scalable and efficient AI infrastructure. Through a joint research and development project, PFN and Tenstorrent aim to develop a system-level integration of
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom