Jay-Z has laughed off reports saying he sold his Las Vegas nightclub because it was losing money – boasting about the huge profit he made on the venture.

The star completed a sale of the venue to the Palazzo Hotel & Casino, where it was located.

Recent reports have suggested that the hot-spot was struggling to attract enough club goers.

Jay-Z refuses to reveal exactly how much money he has made on the sale, but it is rumored to be as high as $90 million.

The rapper describes the move as "a great business decision."

Hova still boasts 40/40 venues in New York City, Atlantic City and New Jersey, with plans to open new bars in Chicago, Illinois and Tokyo, Japan.

Source: TaleTela