Possible Sale of Mesquite Gaming on the Horizon


Mesquite Gaming, LLC – Are They Up for Sale?: October 31, 2023, 03:13h

Last updated on: October 31, 2023, 03:13h

Reports suggest that Mesquite Gaming, LLC, the owner of two renowned casino resorts in Mesquite, Nevada, may be on the auction block.

Casablanca, Mesquite, Rhon Wilson
The Casablanca in Mesquite, Nevada. Owner Mesquite Gaming could be up for sale. (Image: Casablanca Resort/Twitter)

The upcoming meeting of the Nevada Gaming Control Board (NGCB) on November 1, 2023, will discuss the suitability applications of Matthew Wilson, Jordon Kruse, and David Quick, who are listed as 33.33% owners of Mesquite TopCo LLC, based in Los Angeles. Legal jargon such as “bidco” and “opco” often hints at preparations for mergers and acquisitions.

The NGCB agenda also reveals that Mesquite TopCo could be registered as a private investment company, and an application to transfer an option to acquire 40% of Mesquite Gaming is pending for Mesquite Parent, LLC, per a convertible note agreement.

If approved, the 40% interest would then be transferred to Mesquite BidCo, which shares the same address as Mesquite TopCo. However, the purchasing price for this privately held gaming company is not mentioned in the NGCB agenda.

Exploring Mesquite Gaming

Mesquite Gaming is the proud owner and operator of two prominent establishments in Mesquite, Nevada – the CasaBlanca Resort and the Virgin River Hotel & Casino. Conveniently located 77 miles away from Las Vegas, these properties boast a combined total of 1,186 guest rooms, 76,000 square feet of casino space, featuring 1,600 slot machines and 36 gaming tables, as well as 70,000 square feet of meeting and convention space, including an outdoor entertainment venue.

According to the company, these properties offer remarkable amenities and services, making them highly popular among visitors.

As of September 2022, it was reported that Newport Global Advisors LP, an investment company based in Woodlands, Texas, controls 40% of Mesquite Gaming, with CEO Anthony Toti and Michael Gaughn each controlling 25%. The NGCB agenda suggests that the Michael J. Gaughn Familly, LLC owns a 35% stake in Mesquite Gaming.

Michael Gaughn, a well-known figure in the Las Vegas gaming scene, is the proprietor of the South Point Hotel, Casino & Spa, and oversees the slot machines at Harry Reid International Airport.

Although Mesquite Gaming is not specifically mentioned on the Newport Global Advisors website, their previous investments include the Eldorado Resorts, the company responsible for the $17.3 billion acquisition of Caesars Entertainment in 2020. Newport Global Advisors focuses on enterprises with values ranging from $50 million to $750 million, a description that fits Mesquite Gaming.

Rumors Surrounding Mesquite Gaming

In recent days, online speculation about the potential sale of Mesquite Gaming has been swirling. Several sources have hinted at a sale, with one Twitter user mentioning the involvement of Oak View Group.

Vital Vegas contributor, Scott Roeben, acknowledged the rumors but emphasized that no official confirmation has been made regarding Oak View Group’s supposed acquisition of Mesquite Gaming.

Oak View Group has connections to Las Vegas through partnerships with Sphere and Entertainment, as well as its own plans for a large-scale casino resort and arena. Their previous projects have been on a grander scale and in larger cities than Mesquite.

[ad_2]

Source link

Leave a Comment