The ‘King of Pop’ Michael Jackson may actually be forced to play Las Vegas for an extended period of time.
Colony Capital, a private equity group, recently bought the loan on Jackson’s infamous Neverland Ranch in California for $23 million. Colony also owns the Las Vegas Hilton and is a major shareholder in the Station casino chain.
So to reclaim his ranch, which he once also said he would never return to after he was found innocent in child molestation charges in 2005, he may have to perform live to raise the capital. And the Hilton may just be such a venue. There are reports that he is residing in Pahrump, NV now, about 60 miles from the Vegas strip.
Jackson is reportedly looking into various repayment options for his ranch.