Casinos Austria International (CAI) today announced the successful closure of the sale of its holding in South Africa. The company’s 20.6 percent stake (60,226,988 shares) in JSE-listed Gold Reef Resorts Ltd was purchased on 21 May by a leading South African fund manager for a purchase price of 963 million rand (approx. 82 million euro).
National Lottery operator Camelot could change hands after major shareholders in the firm said they were considering selling their stakes. Banknote printing group De La Rue and Japanese IT firm Fujitsu are looking at a possible sale of their 20% holdings in Watford-based Camelot, which has run the Lottery since it began in 1994.
Reno, Nevada (AP) – A Lake Tahoe casino once owned by Frank Sinatra is set to go up for a foreclosure sale April 8. Because the Cal Neva Resort, Spa and Casino straddles the California-Nevada line, separate auctions that day in Reno and Roseville, Calif., are listed on the trustees notice. The first is scheduled for 10 a.m. in Roseville, while the second is set for 11 a.m. in Reno. The auction in either state could affect the other state’s sale if a party bids the full or partial amount of the property.
Atlantic City – The New Jersey Casino Control Commission today extended the sale deadline of the Tropicana casino here until April 30. The commission also gave the casino’s trustee and a group of lenders until March 30 to make final an agreement that would clear the way for a bankruptcy auction of the casino. Gary Stein, Tropicana trustee and a former New Jersey Supreme Court justice, has been trying to sell the casino since December 2007…
After years of limited opportunities to buy and sell casinos, the topsy-turvy economy has opened the door for entrepreneurs to make unprecedented offers for choice properties in Las Vegas. With four of Las Vegas’ six largest — and debt-ridden — gaming giants scrambling for cash, opportunistic buyers are waiting for the perfect moment to pounce. With some potential sellers, that moment may be now, while they are attempting to negotiate with lenders…
Atlantic City – There is a chance that the „stalking horse“ that wants to buy Tropicana Casino and Resort may not finish the race or even get out of the starting gate. Cordish Co., the Baltimore developer designated last fall as the so-called stalking horse, or leading bidder, in Tropicana’s protracted sale, missed a deadline Monday to reach agreement to buy the troubled casino.
The seven locations under the Casinos Poland brand are likely to be sold in the upcoming months. They are owned by LOT, the Polish airline, and by the Polish Airports Authority, which have indicated a willingness to sell their interests. It is expected that the casinos will be sold in the first half of the year and, according to speculation in Poland, the contenders will be Century Casinos, Olympic and Thunderbird.
Atlantic City, New Jersey (AP) — Sometimes the art of the deal calls for it to be redone. That’s what has happened to an agreement between Donald Trump and a former protege of his who’s buying the Trump Marina Hotel Casino in Atlantic City. Due to the worsening economy, both sides agreed to reduce the purchase price for the casino-hotel to USD 270 million, down from the USD 316 million they set as the price back in May.
London (Reuters) – The government said on Wednesday it would not go ahead with the planned sale of state-owned bookmaker, the Tote, this autumn due to market conditions. „I have now concluded that it is not appropriate to pursue a sale in these market conditions. I have therefore decided that the Tote should be retained in public ownership for the medium term, and brought to the market when conditions are likely to deliver value for the taxpayer and racing,“…
Tropicana Entertainment LLC will be allowed to place Casino Aztar on the auction block again. A Delaware judge gave Tropicana Entertainment permission today to hold a new sale of Casino Aztar. In March, Tropicana had agreed to sell the casino to Eldorado Resorts LLC for as much as USD 245 million. The transaction was to take place once Eldorado, based in a Reno, Nev., obtained a license to run a casino in Indiana.
Monday, Century Casinos, Inc. said it was considering the sale of part or all of its South African casino resorts, following a number a verbal indications of interest. The company’s South African assets include 100% ownership of The Caledon Hotel, Spa and Casino in the Western Cape province and the 60% holding in Century Casino and Hotel in Newcastle, KwaZulu-Natal province.
Tropicana Entertainment filed a motion in US bankruptcy court to seek a better sale price for its Indiana casino, the same day two unions voted in favor of a new contract for 750 workers at the company’s Las Vegas Strip property. The company said last Friday it hopes to get a higher bid for Casino Aztar in Evansville, Indiana. Tropicana already agreed to sell the property to Eldorado Resorts in March, but said it was operating under a different governance structure.
