Mohari Buys Tao Group From MSG in Deal Valued at $550 Million

Tao Group Hospitality, the nightlife and dining powerhouse behind the Lavo, Hakassan and Marquee brands, will be sold to Mohari Hospitality Ltd, the investment firm of PokerStars co-founder Mark Scheinberg.

Mohari is taking over Tao from the Madison Square Garden Entertainment Corp., which owns a majority stake in the company. The deal, which is expected to close in May, values Tao at around $550 million.

Earlier, Bloomberg News reported that Mohari had beat out rival bidders and was nearing a deal to buy Tao Group. In 2014, Scheinberg’s family sold PokerStars to Amaya Gaming Group Inc. for $4.9 ...