Where to find a Casino for $300 Million?

Question

I have a Client with a serious request. He has partnered with group and they're looking to spend up to $300 million to acquire an operating casino.

I have confirmed they do indeed have financials available to support such an acquisition with not less than $100 million in cash.

Specifically, they're looking for a property with an entertainment venue capable of seating at least 1,500-2,000 people "in the round" for regular (weekly) televised boxing event promotions.

I believe they'd even do a build out if the space was available. The Client has a 100+ page business plan and commitments from major boxing celebrities to bring to bear once they have a property to become affiliated with.

Is there such a property in LV?

Answer 1

I would start contacting the Indian Tribes in various states that have Indian gambling...I am quite sure they'd be happy to have capital to expand or build new casinos as partners...PEACE!

Answer 2

Just a quick note Macao is opening up to 50 more casinos in the next couple of years there are lots of projects going to be opening. LV I would doubt if an operating casino on the strip will go for that, you might find one of the strip or one that caters for local punters just on the outskirts of town. Are your clients looking for a venue in the USA or are they willing to travel.

Answer 3

we just had a casino close to where i live sell for $250 million...seems like a steal to me since it was originally bought for 1.25 billion a couple of years ago.  but it is in Indiana, not LV

Answer 4

You can bring them to Nepal ! contact [e-mail]

Answer 5

$300 million is plenty of money to buy a casino if you look. I can't comment on anything specifically as I do not know what is "for sale", but there are certainly properties here (Las Vegas) that are worth less than that. Of course you will not be on the strip, and you will not even be buying a premium off-strip property, but they do exist.

Anyway, Yahoo Answers is not the place to look for such information if you're serious. All I can tell you is to maybe come here, see what's around, and speak with as many speak with as many property managers and/or owners as possible.

Answer 6

Casinos are popping up all over macao, go build one there.

It is said that the avg table minimums are more than three times that of las vegas, due to the popularity of gambling in china.  Gambling revenue is also higher by a signifigant percentage do to gamblers from asia being less proficient at gambling in general.

Gambling revenue for all of macaos operating casinos surpassed that of las vegas recently.

It is an ideal location to develope a new one, i do not know of any price tags on individual casinos for sale.

Answer 7

Not a chance.

You'd probably be better off building up your own place in Reno/Laughlin

Answer 8

Yes.  Contact ANY realtor in Vegas and they will be happy to oblige your client(s)...make sure they check out the venue and location - in Vegas, location is everything.  Good luck.  Cindi

Answer 9

Yes, Vegas, Macao, Atlantic City and just about anywhere there are casinos. Deals go made and broken. Google any of those places and you'll find prospects. Good hunting.