Thursday, January 10, 2008

Status on proposed sale of Binion's by MTR Gaming Group

From the article on The Times West Virginian courtesy of the Associated Press:

"CHESTER — The Nevada Gaming Control Board has approved MTR Gaming Group’s plan to sell its Binion’s Gambling Hall & Hotel in Las Vegas.

The plan unanimously approved Wednesday now goes before the Nevada Gaming Commission for consideration.

If approved, the $32 million cash deal with TLC Casino Enterprises should be completed by February.

MTR also has a North Las Vegas property under contract for sale.

The company decided to sell its Nevada properties so it could concentrate on holdings in West Virginia, Pennsylvania and the Midwest.

Last month MTR launched casino-style table games at its flagship property, Mountaineer Casino, Racetrack & Resort in Chester.

The company also has interests in Michigan, Minnesota, Pennsylvania and Ohio."

Note that the Mountaineer Casino, Racetrack and Resort in Chester, WV is identified as the "flagship property," and that the sale of Binion's would allow MTR to further concentrate on holdings in WV, and PA, and the Midwest.

We've made it north to Wheeling Island, gang, but we're yet to drive the additional 45 minutes to behold the Mountaineer and all it's gambling goodness. If the casino and its ownership continues to receive newswire nods, I think it's our duty to make the trip...and soon. Okay, maybe after next weeks trip to Las Vegas!!!

Regards,

cheer_dad

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