Terry Caudill, the owner of the Four Queens casino and hotel in Downtown Las Vegas, is planning to buy Binion’s from MTR Gaming for $32 million.

Caudill says he plans to keep a close eye on the casino, something that was difficult for the previous owners headquartered in West Virginia.

“I can tell you it is very difficult to run a Downtown property from across the country,” said Caudill. “It is important to the customers to feel like there is an owner present.”

Caudill said Binion’s would retain its 850 employees.

“I’m just glad it is Caudill and not an investment company that doesn’t know anything and is just trying to make a buck,” said Bill Robinson, chief operating officer of the casino. “It finally looks like there is going to be some stability here.”

While the sale still needs regulatory approval, Caudill is already working on plans to renovate the 56-year-old casino.

“There hasn’t been the money spent that needs to be spent to keep the public areas looking fresh and clean,” he said.

Immediate improvements will include new slot machines and improvements in public spaces, and new drapes, carpet and furniture in rooms. While Caudill said he is looking into long-term plans, he is not ready to discuss them.

The most important improvement, he said, will be his regular presence at the property.

“As an owner maybe you are going to see things others don’t see,” said Caudill, who controls TLC Casino Enterprises, the company that will own Binion’s if the sale is approved. “You see duct tape on the carpet and you have to explain to people that is not acceptable.”

By Greg Jones

Greg Jones is managing editor of Casino Connection Nevada, as well as associate editor of Global Gaming Business magazine.

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