Kennedy Lewis takes majority stake in The Greenbrier in $500M deal
What's the deal? New York-based Kennedy Lewis Investment ManagementDealroom has a profile for this one. Try Dealroom → has become majority owner of The GreenbrierDealroom has a profile for this one. Try Dealroom →, the historic West Virginia resort, through a $500 million joint venture with the Justice Family GroupDealroom has a profile for this one. Try Dealroom →. The Justice family, which bought the White Sulphur Springs property in 2009, remains a partner.
What each side brings: The Greenbrier is one of America's oldest destination resorts, offering accommodations, dining, golf, a spa, gaming and extensive event facilities. Its casino runs 31 table games, more than 160 slot machines and a FanDuel sportsbook. The Justice family contributes deep local roots; Kennedy Lewis brings capital and operational resources.
Why now? The firms say the deal gives the resort a stronger financial foundation to fund long-term investment in its facilities and guest experience. The Greenbrier will stay open throughout the transition, with existing reservations, weddings and conferences proceeding as planned.
The new hire: Kennedy Lewis appointed Lloyd Nathan as chairman of The Greenbrier's board. Nathan spent nearly a decade at MGM Resorts InternationalDealroom has a profile for this one. Try Dealroom → and brings experience across hospitality, gaming, real estate and large-scale development.
What could go wrong? The deal still needs final approval. The West Virginia Lottery CommissionDealroom has a profile for this one. Try Dealroom → has authorised casino operations to continue while it reviews the transaction. "Casino operations will continue without interruption," representatives said.
What's the endgame? "Our intent is not to change what makes The Greenbrier special but to invest in its future," said Nathan. David Chene, managing partner at Kennedy Lewis Investment Management, said the partnership creates "a powerful platform to invest in the property's long-term future."
The signal: The deal underscores investment firms' appetite for trophy hospitality and gaming assets, pairing outside capital with local operators to preserve legacy properties while positioning them for growth.
Read more: G3 Newswire
Image credit: davidwilson1949
