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