Casino Connection Nevada

Betting on Binion’s

by Staff

The sale of Binion’s Gambling Hall and Hotel in Downtown Las Vegas could close by February 2008, officials with MTR Gaming Group said.

MTR, which currently owns the venerable casino, and TLC Casino Enterprises, Inc., headed by Terry Caudill who also owns the Four Queens in Downtown Las Vegas, anticipate the sale being placed on the January agenda of the Nevada Gaming Control Board and Nevada Gaming Commission.

“We are pleased to be nearing the close of the Binion’s sale to TLC, as we believe it is in the company’s best interest to concentrate our efforts and resources on our core properties in West Virginia, Pennsylvania and the Midwest,” said MTR CEO Ted Arneault.

Terry Caudill said he sees a good amount of potential in the property, and the ability to cross-market it with his other Fremont Street area casino.

“We are looking forward to operating Binion’s alongside the Four Queens, and are very enthusiastic about the prospects for the property and incorporating the Binion’s employees into our organization,” he said.

The property is selling for $32 million in cash.