Oyo Hotel & Casino Las Vegas — Photo by OYO Hotels & Homes

In what is its first property purchase in U.S., SoftBank-backed Oyo Hotels and Homes, has bought the Hooters Casino Hotel Las Vegas.

While, Oyo did not divulge the financial terms of the transaction, a person close to the development said Oyo and Highgate, an American real estate investment and hospitality management company, are together putting in $135 million for the asset.

Hooters Casino Hotel will now be rebranded and designed as Oyo Hotel & Casino Las Vegas, the company said in a statement. It provides 657 rooms across 19 floors and a 35,000 square-foot casino.

Highgate will assume management of the hotel, and Paragon Gaming will continue to operate the casino, Oyo said.

Hotel website