Las vegas casinos for sale

Frontier Hotel-Casino site up for sale at $400 million

Frontier Hotel-Casino site up for sale at $400 million A prime center-Strip location that had been earmarked for a major casino called Alon is up for sale. Alon’s developer, Crown Resorts, out of Australia, is asking $400 million for the 34.6-acre parcel that it bought for $280 million in 2014. The same parcel, formerly the site of the Frontier Hotel-Casino, went for $1.2 billion when purchased by a developer from Israel in 2007 for a project called The Plaza, which also never materialized. WoF jackpots: Two Wheel of Fortune jackpots were hit last week. A 25-cent progressive at the Wynn paid $343,000, and a $1 progressive at Arizona Charlie’s Decatur paid $1.67 million. It kind...

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Nevada Gold Casinos Announces Sale of Club Fortune NYSE:UWN

Nevada Gold & Casinos Announces Sale of Club Fortune LAS VEGAS, June 27, 2018 (GLOBE NEWSWIRE) -- Nevada Gold & Casinos, Inc. (NYSE MKT:UWN) (the “Company”) announced today the signing of a definitive purchase agreement to sell its Club Fortune Casino in Henderson, Nevada to Truckee Gaming, LLC for $14.6 million, subject to certain adjustments, including a working capital adjustment. The sale price is equal to approximately 8.5X EBITDA for Club Fortune for the trailing twelve months ended April 30, 2018. The transaction, which received lender consent, is subject to customary closing conditions, including approvals of the Nevada Gaming Control Board and Commission, and is expected to...

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Struggling Las Vegas Strip Casino Sold To Reno Casino Owners

A lot is happening on the north end of the Las Vegas strip these days. The casino formerly known as the Sahara has new owners just a few years after a $415 million upgrade to the property, which included rebranding it as SLS Las Vegas. According to a report from the Las Vegas Review-Journal, Meruelo Group, which owns the Grand Sierra in Reno, have agreed to purchase SLS for an undisclosed price from Stockbridge Capital Partners. “This is a once in a lifetime opportunity to acquire a premier gaming property on the world famous Las Vegas Strip,” Meruelo said in a statement. The iconic Sahara fell victim to the financial crisis of 2008 and closed in 2011. It had been open since 1952. Despite...

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Las Vegas Sands Earnings Miss As Vegas Casinos Come In Weak; Revenue Beats

Top casino stock Las Vegas Sands ( LVS ) fell short of earnings forecasts late Wednesday as Vegas casinos underperformed. Estimates: Wall Street sees EPS jumping 10% to 80 cents, according to Zacks Investment Research. Revenue is also seen ticking up 4% to $3.28 billion. Results: EPS of 74 cents on revenue of $3.3 billion. In Macau, property EBITDA jumped 25% to $750 million, above the consensus estimates of $722 million. However, the firm's Las Vegas operations failed to meet expectations. Las Vegas EBITDA was expected to come in at $92 million, but it actually fell 2.5% to $77 million. Las Vegas Sands is aiming for a correct entry of 81.55 after building a 6-week flat base, MarketSmith...

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VICI Properties to Buy Harrah’s Las Vegas Casino from Caesars in $1.14 Billion Sale-Leaseback Deal

The buyer is VICI Properties Inc., a Las Vegas-based REIT spun off last month from Caesars Entertainment Operating Co. Inc., a subsidiary of Caesars Entertainment. As part of the transaction, VICI will lease back the land and real estate to Caesars under a 15-year, triple-net lease agreement with four five-year renewal options. Harrah’s Las Vegas spans 4.1 million square feet and contains 90,600 square feet of casino space and 2,530 hotel rooms. The property features a Mardi Gras and carnival theme, with 16 restaurants and bars, retail shopping, spa services, a parking garage and 24,000 square feet of meeting space. VICI Properties also entered into a definitive agreement with Caesars to...

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Westin Las Vegas GM Lezlie Young adapts to changing guest demands, Hotel Management

One would be hard-pressed to call an 826-guestroom hotel small, but compared to its behemoth neighbors, the Westin Las Vegas is comparatively intimate. That sense of intimacy, hotel GM Lezlie Young says, is what keeps guests coming back to the nongaming, nonsmoking hotel—a rare find in a city known for excess. But what makes a hotel different can be what captures a market, as Young has seen after spending more than 20 years in the business. Early Years While Young was working at a health club to put herself through business classes at the University of Nevada, Las Vegas, a club member approached to suggest that she come work at the soon-to-open Luxor. After meeting some of the hotel’s...

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Las Vegas’ Lucky Dragon Casino Hoping for Bankruptcy Sale

News » Gaming Business » Las Vegas Lucky Dragon Casino Hoping for Bankruptcy Sale, But Main Creditor Has Other Ideas Las Vegas Lucky Dragon Casino Hoping for Bankruptcy Sale, But Main Creditor Has Other Ideas Andrew Fonfa, owner of the Lucky Dragon Hotel & Casino, is hoping to sell the doomed venture via bankruptcy auction. According to the Las Vegas Review-Journal, bid procedures are scheduled to be considered at a court hearing on May 14, but there’s a big dispute about the valuation. Fonfa believes his property is worth $143 million, but his main creditor, Snow Covered Capital, claims its worth less than half that, just $60 million. When LVRJ asked Fonfa the reason for the...

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Host vs sales rep. - Las Vegas Forum - TripAdvisor

I am pretty sure she is a sales rep, not an executive host. I have one that books all my CET reservations anywhere except my local Harrahs where I have an executive host. My rep is based at Planet Hollywood which I think is where most of the Vegas reps are located. Their official title is Sales Executive. They can book any offers in your TR account for you and can usually get at least a small room upgrade, like Octavious or Augustus Tower at Caesars when you can only get Palace Tower online. They can't make up an offer based on your previous play with Freeplay and other perks like an executive host can. Most of the sales executives have a ton of clients and getting a response from them...

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Palms Casino Resort Sold for $312.5 Million

Red Rock Resorts, Inc. (NASDAQ: RRR) today announced that Station Casinos LLC has entered into a definitive agreement to acquire the Palms Casino Resort in Las Vegas, Nevada for total cash consideration of $312.5 million. “With the acquisition of the Palms we gain a leading gaming asset in Las Vegas with key strategic benefits in the Las Vegas locals market and close proximity to the Las Vegas Strip,” said Marc Falcone, Executive Vice President, Chief Financial Officer and Treasurer of Red Rock Resorts. “With its appeal to both Las Vegas residents and tourists alike, the Palms is a hybrid gaming property that is uniquely positioned to benefit from the strong economic...

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Las Vegas: Casinos cost $1.1B to build, sell for $610M

Las Vegas: Casinos cost $1.1B to build, sell for $610M Over a period of two weeks, one of Las Vegas’ biggest casino companies bought three properties in two separate deals. Boyd Gaming first purchased Aliante Casino + Hotel for $380 million, then the Cannery and Eastside Cannery for $230 million. Given that the three casinos were built between 2003 and 2008 at a combined cost of more than $1.1 billion, Boyd got a smokin’ deal. The purchases bring the number of Boyd casinos in southern Nevada to 12. MORE LAS VEGAS: Las Vegas Travel Guide | Strolling the Las Vegas Strip | Las Vegas Happy Hours | Discount Las Vegas | Great Las Vegas views and atmosphere | Best Las Vegas buffets Buffet deal...

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