NEW YORK, NY / ACCESSWIRE / June 10, 2021 / Gaucho Group Holdings, Inc. (NASDAQ: VINO), a company that includes a growing collection of e-commerce platforms focused on fine wine, luxury real estate, and leather goods and accessories, today announced the signing of a letter of intent with a new strategic partnership the retail, hospitality, lifestyle, entertainment, leisure and gaming visionaries, Mark Advent, A. William (‘Bill’) Allen, Timberline Real Estate Partners and Open Realty Properties to form a Gaucho Group Holdings, developing and branding the company Gaucho Group Holdings in Las Vegas, Nevada.
The pent-up demand is widely expected to result in robust consumer spending in sectors such as gaming, entertainment, hospitality and leisure. Known as America’s adult playground, Las Vegas is particularly likely to benefit from an increase in consumer spending. With previous experience developing major projects in the Las Vegas market, the partnership seeks to capitalize on this potential boom.
Commenting on the announcement, Scott Mathis, CEO and Chairman of Gaucho Group Holdings, Inc, said: ‘Gaucho Holdings will add to our growing portfolio and develop and potentially acquire or invest in world-class investments in similarly positioned world-class assets. We believe in the long-term strength, uniqueness and financial sustainability of the Las Vegas market as one of the most important international gateway cities. We are pleased to announce our cooperation with Mr. Allen and Mr. Advent, whose success stories, successes and experiences with large projects and first-class real estate and brands represent enormous added value for Gaucho and his brand and business family. We look forward to this project and look forward to working with the new team. ‘
Bill Allen, currently an investor, advisor and board member for several developed and young food service companies, was CEO of Bloomin ‘Brands from 2005 to 2009 and chairman of the board of directors from 2009 to 2011. Mr. Allen was previously involved in the founding and growth of Fleming’s, which he co-founded with Paul Fleming in 1998 and later sold to Bloomin ‘Brands in 2004. Prior to joining Flemings’, Allen was President and CEO of La Madeleine French Bakery and Café. At the beginning of his career, Allen worked for The Marriott Corporation and Restaurant Enterprises Group.
Mark Advent is the creator of the hugely successful New York-New York Las Vegas Hotel & Casino in Las Vegas, Nevada, which opened in 1997 with immediate success. “Bill and I are proud to be associated with Gaucho Holdings and its strong leadership team,” led by Scott Mathis. We are committed to creating a unique opportunity in Las Vegas for Gaucho Holdings and its shareholders, ”said Advent.
Mathis added, ‘In the years to come, we aim to promote all of our brands and the invaluable experience of our new partners in international business and real estate development correlates directly with our goals. Future plans for this particular endeavor will be announced shortly as Gaucho Holdings and this new dream team work together to create a successful game plan. We believe this partnership has the potential to fundamentally change the market value of Gaucho Holdings. ‘
Mark Masinter, founder of Open Realty Properties, a subsidiary of Open Realty Advisors, a leading development and investment firm, said: “We are delighted to be working with Gaucho to bring the Argentine products and flair of the company to America.”
Timberline Real Estate Partners founder Stan Nix said, “Working with Scott and his team can be of tremendous value.”
About Gaucho Group Holdings, Inc.
For more than a decade, Gaucho Group Holdings, Inc. (gauchoholdings.com) has been committed to finding and developing opportunities in the undervalued luxury real estate and consumer market in Argentina. Our company is positioned to benefit from the continued and rapid growth of global e-commerce across multiple market sectors with the aim of becoming a leader in diversified luxury goods and experiences in sought-after lifestyle industries and retail landscapes. With a focus on fine wines (algodonfinewines.com & algodonwines.com.ar), hospitality (algodonhotels.com) and luxury real estate (algodonwineestates.com) associated with our own Algodon brand, as well as the leather goods, ready-to-wear and accessories from the fashion brand Gaucho – Buenos Aires ™ (gauchobuenosaires.com), these are the luxury brands in which Argentina finds its contemporary expression.
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 historical fact in this press release may constitute forward-looking statements and are not guarantees of future performance, condition, or results a number of risks and uncertainties. Actual results could differ materially from those in forward-looking statements due to a number of factors, including those described from time to time in our filings with the Securities and Exchange Commission and elsewhere. The company assumes no obligation to update any forward-looking statements made herein. All forward-looking statements speak only as of the date of this press release.
Media relations:
Gaucho Group Holdings, Inc.
Rick Stear
Head of Marketing
212.739.7669
rstear@gauchoholdings.com
SOURCE: Gaucho Group Holdings, Inc.
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