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13 Nevada casinos for sale

Thirteen rural Nevada casinos have been offered for sale by Holder Hospitality Group Inc.

Silver Club Casino in Sparks, Nevada, for saleHolder is looking for a price tag around $200 million for all 13 casinos. The casinos offered for sale are: Silver Club in Sparks, Sharkey's in Gardnerville, Stockmen's and Commercial in Elko, El Capitan and Joe's Tavern in Hawthorne, Sundance and Model T in Winnemucca, the Wigwam and Truck Inn in Fernley, the Scoreboard Sports Lounge in Spring Creek, Charlie Holder's in Henderson and the Red Garter in West Wendover. Altogether the future owner would have  about 2,700 slots, 40 table games, 668 hotel/motel rooms.

Holder has also set up an employee fund of $15 million for bonuses, salaries and compensations for the current staff during the sale process. Holder has also established a separate fund to guarantee the employees a bonus if the new buyer does not offer them a job with wages and benefits equal to or better than their current.

This is not the first time Holder is seeking a buyer for his Nevada casinos. Last year two unsolicited offers fell apart after the companies were unable to secure the finances for the purchase. This time Holder Hospitality Group has engaged Jefferies & Co. investment bankers to negotiate the future sale.

Holder expects a deal to go through by the end of July, although the finalizing of such purchase may stretch as long as an year.


Related news:

 $1.3 billion deal for four casinos in Nevada
 California approves state casino gambling expansion bill



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