“I think we can say we’re definitely not interested [in Station Casinos] … We’re not really aware The Rio is for sale.” — Penn National Gaming CFO William Clifford during what must have been a very confusing conference call. You think you can say you’re definitely not interested, sir? You’re not really aware? When do you plan to be sure you’re definitely uninterested and actually aware? Sheesh!
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I wonder if he is aware of the rampant rumor that Penn National is trying to acquire the Mirage Hotel & Casino. 😉
The Penn/Rio rumor has been out there for a year so. I think Penn made a low ball offer (let’s say $300 million dollars) for the Rio and Harrah’s probably wanted closer to $500 million dollars for the Rio. It looks like neither side will budge so the Rio will continue to have a “for sale” sign on it.
It would not be smart of Penn to buy any of Station Casinos casinos because none are near the Strip. Since Station Casinos and Boyd Gaming are the two companies that control most of the local casinos I think they are going to battle it out for Stations properties that are for sale. In the next couple of years or so I think that the only casinos that will be sold to anyone (not including Station casinos) will be either on the Strip or within one mile or so of the Strip.
Please, o please, will somebody buy the Plaza & Vegas Club from Tamares, then invest enough dollars to bring them back up to decent shape?
Oscar, where are you? The properties might fall down from lack of ordinary maintenance. Can’t you make some calls to potential buyers? I mean, you threw your support behind Reid, who helped save financing for that Strip “investment”, right? I know you want to tear down one of the Plaza’s towers to make way for that new development – but the main structure is worth saving. Maybe you can make a deal with potential new owners? And as guests’ “quality of stay” reviews of the Plaza & Vegas Club continue to trend down to “1/2 stars”, these landmark hotel/casinos will subvert your efforts to upgrade the public’s opinion of Downtown Vegas.
Venting done, for now.