Jay-Z held a grand gala party for the opening of his third 40/40 Club at The Palazzo. The 24,000-square-foot ultra sports bar and lounge cost $20 million to build. It’s a multi-level nightclub that features 85 Plasma-screen TVs for the ultimate in sports viewing, as well as five exclusive VIP rooms, 24-karat gold and platinum floors and an outdoor terrace. The flagship 40/40 Club opened in 2003 in New York City. The name refers to one of baseball’s most prestigious achievements—when a player hits 40 home runs and steals 40 bases in one season. Photos by Erik Kabik