\n
![\"\"](\"http:\/\/i61.tinypic.com\/347he04.jpg\")
\n\tHooters 2015 as it stands now.<\/p>\n
\n
\n\tHooters 2015 as it stands now.<\/p>\n
\tIt used to be San Remo before it was Hooters
\n\t![\"\"](\"http:\/\/i62.tinypic.com\/24yvj3l.jpg\")
<\/p>\n
\tBefore that, it was the Treasury. Where Rooms were $10 a night
\n\t![\"\"](\"http:\/\/i59.tinypic.com\/34t21b7.jpg\")
<\/p>\n
\tBy John Katsilometes (contact) John Katsilometes, Eli Segall (contact) Eli Segall
\n\tFriday, May 8, 2015 | 5:30 p.m.<\/p>\n
\tThe Las Vegas resort famous for its wings, and other things, has been sold.<\/p>\n
\n\tHooters Casino Hotel, just east of the recently sold Tropicana, has been snapped up by the resort investment company Trinity Hotel Investments of New York. The $53.8 million sale was recorded May 1, a day after hotel employees were notified of the impending transaction.<\/p>\n
\tTrinity senior principal George Ruff and chief investment officer Al Frazzini did not respond to requests for comment.<\/p>\n
\tThe seller, Canyon Capital Advisors, based in Los Angeles, did not return calls for comment.<\/p>\n
\tThe Hooters casino has been operated by Las Vegas\u2019 Navegante Group, which also has served as operator of LVH and later Westgate Las Vegas (executives with Navegante Group also did not return a phone call).<\/p>\n
\tThe purchase marks Trinity\u2019s first acquisition in Las Vegas, said CBRE Group broker Michael Parks, who worked with the seller. The sale closed shortly after M Resort operator Penn National Gaming announced plans on April 29 to buy the once-bankrupt Tropicana, a next-door neighbor of Hooters, for $360 million.<\/p>\n
\t\u201cWhen you\u2019ve got two new owners in adjacent properties who I\u2019m guessing are both going to put some money in … and make some changes, that\u2019s good for the neighborhood there,\u201d Parks, a member of CBRE\u2019s global gaming group, said.<\/p>\n
\tNew York-based Trinity says online that it has owned and invested in hotel properties in the United States, Europe and Asia, and that its top bosses have done more than $8.7 billion in deals.<\/p>\n
\tTrinity, which is expected to change the Hooters name, has entered into partnerships with hotels operated by such resort companies as Crown Plaza, DoubleTree By Hilton and Holiday Inn. It is expected, though not yet verified, that the last company will take over the property \u2014 but not under the Holiday Inn brand.<\/p>\n
\tHoliday Inn has a history of hotel-casino operations on the Strip in the form of the Boardwalk, the Coney Island-fashioned property that once stood on the grounds now occupied by CityCenter. That hotel closed Jan. 6, 2006, and was imploded the following May.<\/p>\n
\tHooters has had a spotty financial history over the past five years. In August 2011, the resort\u2019s then-owners filed bankruptcy just a week before the property was scheduled to be auctioned off at a foreclosure sale. In court filings, the owners reported having $63 million in assets and roughly $178 million in liabilities.<\/p>\n
\tCanyon Capital acquired most of the property\u2019s debt for just 22 cents on the dollar, according to news reports. It won bankruptcy court approval in February 2012 to buy the resort.<\/p>\n
\tEarly indications are that the hotel will continue to serve as a fully functional hotel-casino, maintaining its gaming license, and still be home of the Hooters restaurant that is the most profitable in the company\u2019s chain of eateries in the United States.<\/p>\n
\tTaking up the site of the former San Remo Hotel, Hooters opened Feb. 2, 2006, throwing an orange-carpet gala starring Gene Simmons of KISS and former Miami Dolphins quarterback Dan Marino.<\/p>\n
\tMarino opened a steakhouse at the hotel, Dan Marino\u2019s Fine Food & Spirits. The hotel has 696 rooms and 35,000 square feet of casino territory, and over the years its entertainment lineup has featured \u201cPitbull of Comedy\u201d standup Bobby Slayton and the Prince tribute \u201cPurple Reign.\u201d More recently, the headliner has been Kevin Lepine and his \u201cHypnosis Unleashed\u201d production.<\/p>\n
\tThere have been no changes in any of the hotel\u2019s amenities yet announced.<\/p>\n
No replies were posted for this topic.<\/p>\n","protected":false},"excerpt":{"rendered":"
Hooters 2015 as it stands now. It used to be San Remo before it was Hooters Before that, it was the Treasury. Where Rooms were $10 a night By John Katsilometes (contact) John Katsilometes, Eli Segall (contact) Eli Segall Friday,…<\/p>\n","protected":false},"author":36,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[],"class_list":["post-8994","post","type-post","status-publish","format-standard","hentry","category-latest-casino-news"],"_links":{"self":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/8994","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/users\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/comments?post=8994"}],"version-history":[{"count":0,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/posts\/8994\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/media?parent=8994"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/categories?post=8994"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumarchives.tmsites.net\/index.php\/wp-json\/wp\/v2\/tags?post=8994"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}