MTR Gaming Group plans to complete the sale of Binion’s Gambling Hall & Hotel in Las Vegas this week. TLC Casino Enterprises is buying the former home of the World Series of Poker for USD 32 million.
As a last-minute part of the deal, though, both sides have agreed to a USD 3 million adjustment in working capital. That money will remain with the property when it changes hands. MTR says current market conditions led to the change.
TLC, based in Nevada, also owns the Four Queens casino across the street from Binion’s.
MTR is selling its Nevada properties to concentrate on holdings in West Virginia, Pennsylvania and the Midwest.