(Bloomberg) -- WestRiver Group is seeking funding to establish a Bob Marley-themed venue in Las Vegas, according to people with knowledge of the matter.
The Seattle-based firm is working with an adviser to raise about $50 million to develop the project, and is in talks to lease space from MGM Resorts International, possibly at the Mandalay Bay hotel on the Las Vegas Strip, some of the people said.
The experience is envisioned as a walkable, museum-like venue centered on the Jamaican singer's life, one of the people said. MGM's involvement hasn't been solidified.
Spokespeople for WestRiver and MGM declined to comment. A representative for Marley's estate didn't immediately respond to a request for comment.
WestRiver founder and Chief Executive Officer Erik Anderson has been involved with other experience-based companies. He was formerly executive chairman of Topgolf Entertainment Group, which has its flagship location at the MGM Grand Hotel in Las Vegas, and is co-chairman of TOCA, a soccer-themed company.
Institutional investors are increasingly betting that consumers will channel more discretionary income into experiences, including live events and other social concepts. Other examples include Puttshack and Swingers, two companies that have combined indoor mini golf with food and beverages.
Caesars Entertainment Inc. said earlier this month it was investing almost $75 million along with Las Vegas-based entertainment company Spiegelworld to build three attractions at its casinos, including one at the Linq Hotel in Las Vegas that's a tribute to the birth of disco music.
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