Bettie: Barrick sells casino stakes

[Bettie]

After reading numerous magazine and newspaper articles about how committed Barrick was to the redevelopment of the downtown area and its casinos, they've decided to walk away. Must've had an offer they couldn't refuse!

Fifteen months after announcing plans to restore and re-create the ambience of downtown Las Vegas, Barrick Gaming said Monday it would sell its minority holdings in four casinos -- once the centerpiece of casino pioneer Jackie Gaughan's real estate portfolio -- to a privately owned international investment company.

No sale price was disclosed. Nevada gaming regulators must approve the transaction in which the Tamares Group will acquire 100 percent of Barrick Gaming's subsidiaries that lease the Plaza, Las Vegas Club, Gold Spike and Western Hotel.

Tamares already own a majority stake in the casinos and was considered a silent partner and the casino's landlord. Barrick, with its minority shares, is the managing partner, overseeing day-to-day operations of the gambling halls and serving as the property's public face.

The deal gives Tamares 100 percent ownership in the casinos.

For the rest of the LVRJ story, click on the link below.
Bettie

Barrick sells casino stakes

[LVBear584]

Must've had an offer they couldn't refuse!

Or an impending bankruptcy.

[Praying Mantis]

Now we'll lose some of the better games in Vegas!

[bfbagain]

[Jay]

> Now we'll lose some of the better games in Vegas!

After Barrick took over, the single deck games at LVC & even the Gold Spike started shuffling up every hand with 5+ players at a table. A pit boss I spoke with some months back said they were presented with "the memo" dictating how the SD games should be dealt after Barrick took over.

Was the change due to Barrick or the silent ones? Will the silent ones bring back fair 3:2 single deck? Will they continue to offer a $5 DAS DD along with Fitz's downtown? Will they try the Harrahs/Horseshoe ploy and go with 6:5 and risk empty tables? Tune in, news at 11.

Jay