Casino Sales

Whether the property is located in Las Vegas, Macau, Metro Manila, or anywhere else on the planet, World Casino News brings you breaking stories and updates on mergers & acquisitions and casino sales. Follow the news here to learn about and stay up to date when paper, money, and properties change hands. Whether the headline tells of MGM Resorts International’s secretive speculation to buy Sands Bethlehem or an announcement that the deal fell through, we have you covered.

World travelers may want to check this section to learn if their favorite Caribbean getaway has been sold so they can study timely reviews of the property before investing their holiday time in visiting it.

Shareholders hoping to cause a stir at Donaco International Limited

Asian casino operator Donaco International Limited has reportedly announced that it will hold an extraordinary general meeting within the next two months after three of its major shareholders requested an immediate change in the company’s board of directors.

Read More »

Owners of Treasure Island Las Vegas want to buy more properties

The billionaire owner of the Treasure Island, Las Vegas integrated casino resort has reportedly stated that he would be interested in buying a Las Vegas strip.

Convenient cash:

According to a Friday report from the Las Vegas Review-Journal, Phil Ruffin’s revelation (pictured) was backed by the claim that his company would easily be able to raise up to $ 1 billion in cash Produce to finance such a purchase Be ready to make more debt.

Appeal stripes:

The newspaper reported that the 84-year-old casino magnate was earning his fortune from developing properties along the Las Vegas Strip, such as Treasure Island Las Vegas. It is believed that he is now particularly interested in acquiring Caesars Palace, Harrah’s or Paris from Caesar’s Entertainment Corporation venues like these could generate annual cash flows of up to $ 300 million.

Ruffin told the Las Vegas Review journal …

“They have some great locations and we would be very interested. We have no debts and could therefore borrow a lot of money if we had found the right deal. “

Expensive prediction:

Ruffin believes he would be able to borrow up to six times the annual cash flow of such a location, which could cost as much as $ 1.8 billion. Barry Jonas of Atlanta-based financial services firm SunTrust Robinson Humphrey Incorporated, however, cited this as predicting that such an acquisition could potentially result in a final bid price north of $ 2 billion.

Investment in Florida:

The Las Vegas Review Journal reported that the Kansas-born Ruffin has an estimated value of approximately $ 3 billion, and in December exhausted an undisclosed amount of that personal assets to acquire Casino Miami. He will now spend more than $ 100 million on developing this 21-acre South Florida venue and is even considering adding a hotel with up to 300 rooms.

Ruffin said …

“If the demand is there, we can hire as many hotel rooms as we want. But for the moment we think we will limit it to 200 to 300. “

Restrained pursuit:

Ruffin is not interested in acquiring off-strip real estate or The Cosmopolitan of Las Vegas, which are being sold by the American private equity firm Blackstone Group LP. He allegedly stated that the current rating for this 8.5-hectare Nevada venue is too steep, and also removed MGM Resorts International and Caesars Entertainment Corp.

Possible upgrade:

For his part, Caesars should consider relieving some of its underperforming real estate in order to revive future wealth. The Las Vegas-based operator is responsible for around 25 gambling establishments, but reportedly lost the value of its shares by some 20% over the past year.

This situation has recently led to American hedge fund billionaire Carl Icahn closing a deal that has made him the largest single shareholder of the casino firm with a share of around 18%. Known for overcoming difficult locations, the businessman recently helped designate a trio of friendly directors and set up a special “transaction committee” to oversee ongoing efforts to create “additional shareholder value”.

Scroll to top