A representative for Jay-Z's 40/40 club today (December 29) shot down rumors claiming that the franchise's opening in Las Vegas is in jeopardy because of failed inspections.

Various media outlets reported yesterday (December 28) that Jay-Z's Las Vegas 40/40 franchise would not be opening tomorrow (December 30) because the club failed its health and safety inspections.

The reports also claimed the club lacked certain licenses and certificates.

Alissa Kelly, a media rep for the 40/40, confirmed to Sixshot.com today that the 40/40 will be opening at the Palazzo Hotel as planned.

“The rumors are absolutely not true,” Kelly told Sixshot.com “As of right now we are moving forward with tomorrow’s grand opening”

The opening of 40/40 in Las Vegas on Sunday will mark the franchise's third expansion. The other two 40/40's are located in New York and New Jersey.

Various celebrities expected to attend the Las Vegas 40/40 opening tomorrow (December 30) include Beyonce, Mariah Carey, Barry Bonds, Outkast's Big Boi, Carmelo Anthony, Darryl "DMC" McDaniels,Gnarls Barkley, Jamie Foxx, Lebron James, Mos Def, Ne-Yo, Talib Kweli and Timbaland, among others.

Opening a 40/40 isn’t the only thing Jay-Z will be doing in Vegas. As reported earlier, the rapper will performing at the Palms Casino tonight (December 29).

Hov, who recently stepped down from his President/CEO position at Def Jam Records, has kept his name in headlines this year with his business moves.

In March, the Brooklyn bred mogul sold his Rocawear clothing line to the Iconix Brand Group Inc for $204 million in cash. Also this year, he formed a partnership with Coca Cola and General Motors and acquired the Artful Dodger clothing line for $15 million in cash.

Earlier this month, the rapper invested in a real estate development venture called J Hotels which recently acquired a $66 million mid-block parcel in New York to build a five star hotel.

Jay-Z and his partners plan to build other five star hotels nationwide under the J Hotel brand after their New York debut.