LV Golden Nugget to be sold

[Kevmath]

Guess their idea to bring back the "old Vegas" didn't work out too well. Story at: http://biz.yahoo.com/ap/050204/golden_nugget_sale_2.html

Kevin...

[slavic]

Hmm Landry's, well at least the food will suck.

[Leo99]

I've only eaten at Joes Crab Shack and that place rocks. I assume their other restaurants must be profitable as they have enough capital to purchase the Golden Nugget. Why do you say that the food will suck?

[Bill Murphy]

Hell, it looks like they made an $111KK profit in less than two years if I read the article right, so I guess they think things turned out OK. /images/graemlins/smile.gif

[Aceshigh7]

Landrys will do right by this place. If anyone has been to the Kemah Boardwalk or the downtown Aquarium in Houston, you know what I mean. Landry's is a top notch organization and Tillman Fertita isn't afraid to shell out big bucks to make his places a success.

[slavic]

I have no doubt that the nugget will be successful. Most of their ventures have gone very well, and I think the managment team has done a wonderfull job.

My point is that for the money, the food sucks. Actually scuks is a hard word, and "not up to par" is more accurate.

[TruePoker CEO]

No one here yet has pointed out that Tilman Fertitta, of Landry's is the a cousin of the Fertitta family which built up, controls and runs Station Casinos. Station Casinos is a very successful operator of many "locals" casinos throughout Las Vegas. However, it has never had a downtown property.

The purchase is good for downtown, good for the buyers, certainly good for the sellers ..... as close to a cinch to succeed as can be found downtown.

Truepoker CEO

[DVO]

"Hell, it looks like they made an $111KK profit in less than two years"

The way I read this, they lost their shirts.

Paid 215mm, sold off part for 31mm, and now the rest for 140mm. loss of $44mm.

[Kevmath]

Landry's also assumed about 155m in debt.

Kevin...