Entrepreneur Rick Smith Jr. pitched his entertainment company during
If you’re short on time, here’s a quick overview of what happened to Vegas Magic Show after
Rick Smith Jr. appeared on
|Mark Cuban||No offer|
|Kevin O’Leary||No offer|
|Robert Herjavec||No offer|
|Barbara Corcoran||No offer|
|Daymond John||No offer|
Shark Tank Vegas Magic Show Update
- Entrepreneur: Rick Smith Jr.
- Business: Magic show act
- Ask: $1.5 million for 20% equity
- Result: No deal
- Shark: None
Founder of Vegas Magic Show, Rick Smith Jr., walked into the tank accompanied by the other artists, as he introduced the sharks to his concept for this new magic act. Rick says that there’s a huge opportunity in Las Vegas, where he intends to create an extremely entertaining, family-friendly, magic show.
However, this won’t be any ordinary magic show. He will involve singers, dancers, acrobats, and his own expertise as an illusionist.
Additionally, he adds that he’s earned himself a spot in the Guinness Book Of World Records, for throwing playing cards harder and faster than anyone else.
He then asked Mark Cuban and Kevin O’Leary to participate in some of the tricks, to the delight of the other sharks. He begins by placing a gauntlet on Mark’s hand, and then having him old a piece of celery.
Rick then proceeds to throw a playing card at the celery, slicing it in half.
Although the act is entertaining, Kevin O’Leary is more focused on the numbers. He wants to know why Rick is placing a valuation of $7.5 million on his company, and what he needs an investment for.
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Rick said he wanted to get an investment and take the magic show to Las Vegas. Further, he said his calculations indicated he would be able to get $12 million from the show, in the first year alone.
Rick also mentioned that he’d not done a Vegas production until then. Although, he was traveling the country doing magic shows for corporate events.
Kevin asked him about earnings, and Rick said he’d made $200,000 the previous year. In response, Kevin suggests that maybe he will just create his own magic show, and hire Rick.
However, he doesn’t understand why he would invest in this company for $1.5 million, when he can start his own.
Robert Herjavec talked about the risks involved with this sort of show, especially with an unknown act.
Mark asked why he wouldn’t start with something smaller, and Rick basically said he would consider it.
Barbara Corcoran was ultimately worried about how easily he changed tack.
Daymond mentioned his connections to the magic show field, although, it’s very hard to do it in Vegas. For this reason, he went out.
Kevin also went out, because he also found the risk staggering.
Mark eventually went out next, because he considered the risk too great.
Robert agreed with that, and went out too. They were followed by Barbara, who said Rick asked for too much too soon, with little to show for it.
Rick left without an offer, but did he succeed following the show? Keep reading our Vegas Magic Show update to see what came next.
Our Vegas Magic Show update reveals that Rick continues to be a successful magician, but his Vegas dreams have not taken off yet. It seems that his appearance in the tank showed him the risk involved with trying to make it work.
That said, he’s gone on to appear on America’s Got Talent, Ripley’s Believe It Or Not, and more. In 2022, he had over 700 performances, so we certainly think it’s safe to say, that Rick is doing just fine in the business!
Check out all that he offers on the Rick Smith Jr. website.
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Jennifer is an avid Shark Tank fan that has been watching the show for years. She serves as Senior Editor at Shark Tank Recap and ensures that all our information is accurate and that our posts are up to date. Her favorite Shark Tank products are Le-Glue and Ring!