Robert Sillerman buys large stake in Miami’s The Opium Group, EDM arms race heats up
Robert Sillerman, entertainment mogul and head of SFX Entertainment, has declared an arms race on EDM enterprises with a billion dollar budget. After purchasing Donnie Disco Presents and the company formerly known as DayGlow, Sillerman has remained relatively quiet — until now. The billionaire has now purchased a large stake in Miami’s The Opium Group, which manages Mansion, SET, Cameo and Mokai Lounge. After acquiring power of a large portion of Miami’s nightlife scene, the rumors continued to surface, and it appears as if Sillerman has just begun an EDM shopping spree.
It has recently come to attention that Miami’s Mokai nightclub is now operating as SFX-Mokai Operating LLC, indicating SFX’s ownership of Mokai as a single entity. Sources close to the situation say that Sillerman’s purchase does not begin or end at Mokai, but that SFX has bought a large stake in The Opium Group entirely. As for now, we have been told that not much will change within the Miami nightlife circle.
Update: Sources say Sillerman’s SFX has also purched MMG, the operators of Liv, Arkadia, and Miami’s latest hot spot, Story.
Days after this news, rumors have surfaced that Sillerman and SFX have been in the process of purchasing Insomniac from Pasquale Rotella for a sum of $100,000,000. While those rumors have been denied, some have speculated that SFX and Live Nation have both placed bids on Insomniac. Still unconfirmed, the massive purchase in Miami could mean that Sillerman has opened his wallet and is ready to make another splash that would land him the company behind Electric Daisy Carnival.