Daily Archives: March 29, 2010

Lots of Las Vegas Casinos for Sale

If so, maybe now’s your time– IF you have the scratch!  

With Las Vegas continuing to face a stiff economic recession – primarily based on a sharply declining gambling economy where fewer players are wagering less money and staggering, near nation-leading unemployment – it’s significantly reduced a majority of Las Vegas-based company revenues and their ability to refinance their debt.   

Caught up in the financial maelstrom are Station Casinos owners, and brothers, Frank Fertitta III and Lorenzo Fertitta.  Station, which mainly runs casinos targeted toward residents of the Las Vegas area and has been struggling with managing debt ever since it finished going private in November 2007,  are now embarked on a quick mission to sell their 14 casinos in Las Vegas while keeping a minority 46 percent stake in four others. 

Their plan was disclosed last Thursday in a Securities and Exchange Commission filing by the Las Vegas-based casino operator calls for mortgage lenders holding debt to become the new majority owners of the Red Rock Casino Resort Spa, Palace Station, Boulder Station and Sunset Station. Station Casinos Inc. said the outstanding debt secured by the four casinos was $1.8 billion. 

Palace Station and Red Rock are the company’s two largest properties, with more than 1,800 hotel rooms combined. 

Station said the reorganization plan was filed with a federal bankruptcy court in Reno, Nev., where the privately held company’s case was originally filed last July. 

Under the new proposed plan, the Fertitta brothers will pay $85.6 million in cash for a 50 percent stake in the four casinos, and then sell a 4 percent share to Colony Capital LLC. 

The Fertittas would continue to manage the properties under a long-term deal, according to the plan. 

The casinos to be sold include Santa Fe Station, Texas Station, Fiesta casinos in two Las Vegas suburbs, and 50 percent stakes in Green Valley Ranch Resort Spa Casino and Aliante Station, among other properties. Seven of the properties do not have hotel rooms. 

The company said it hopes a judge will approve its plan by this summer so the casino operator can emerge from bankruptcy before the end of the year. 

Marc Falcone, chief financial officer for Fertitta Gaming, said the Fertittas would also try to buy the assets to be sold. 

As would be expected, rivals backed with significant financial resources are entering the Las Vegas casino feeding frenzy, aggressively pursuing the acquisition of the diminished valued assets.

One such rival, Las Vegas-based Boyd Gaming Corporation, reiterated its interest in buying all of Station’s casinos.

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First U.S. Legal Male Prostitute Hangs Up His Spurs

The first legal male prostitute in the U.S. has left a Nevada brothel.  Why? Fewer than 10 customers after a two-month stint! 

Brothel owner Jim Davis  of the Shady Lady Ranch, a brothel 150 miles northwest of Las Vegas, said a new replacement stud has been hired, but the original 25-year-old “prostitude,” who worked simply under the name “Markus,” could be back. 

Bobbi Davis, who co-owns the brothel with her husband and runs it as its madam, said the departure of Markus was a mutual decision. 

Markus is still listed under the name “Markus Destin” by adult talent agency OC Modeling. 

Davis said the brothel would keep employing men to have sex with women, including its latest hire, a Las Vegas man in his mid-30s who works under the name “Y. Not,” who has had about 10 customers since Markus has left.

The focus of the business, however, will remain on women prostitutes serving men, Davis said. 

The Shady Lady Ranch created a huge stir in Nevada’s brothel industry when it successfully won state and county approval to hire a male sex worker.

After hiring Markus, the Davises cut him off from speaking with reporters after his first two interviews, in which he compared himself with Rosa Parks and Mahatma Gandhi. 

Markus was the subject of a first-person story by the New York Post after a female reporter hired him but she said they did not have sex.

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Rocker Vince Neil is Higher than a Kite- Legally!

The aging but still high-energy rocker Vince Neil, apparently believes that if you don’t reinvent yourself you’ll die- or at least slowly wither away.  He’s once again onward and ever upward, this time in a unique way:  he’s launching his own mini air force! 

Neil, a Las Vegas resident, is helping people fulfill their dreams of having the opportunity to travel like a rock star.  The Motley Crue frontman is in the midst of launching Vince Neil Aviation to be headquartered in the private terminal at McCarran International Airport in Las Vegas. 

The first three planes in his new fleet are a Hawker 700, a Lear 35 and a Gulfstream. 

“The planes are now all finished, they are all tricked out exactly how you think a rocker’s tour plane would be, complete with painted flames on the fuselage and the zebra-striped interior furnishings!” Vince laughed. 

“The Hawker holds eight people and makes the trip to New York from Las Vegas nonstop. The Lear 35 holds seven and goes nonstop to Los Angeles, San Diego, Phoenix, Aspen and into Mexico and Canada, but cross country to the East Coast requires one fuel stop,” says Neil. 

“I even took the third plane — the Gulfstream — hopping through South America on my most recent solo tour there, and we stopped in Aruba on the way home to Vegas for a four-day-weekend vacation. I’ve booked it myself next week for concerts in Mexico,” says Neil. 

Neil says that he’d started his new airline company to primarily complement his other entrepreneurial enterprises that include his imported tequila, his Dr. Feelgood’s chain of rock bars and his Vince Neil Ink tattoo shops. 

Shortly, his new Web site VinceNeilAviation.net will be up and running with rates and all the other information on his charters. 

The rocker loves all his toys — a black 2008 Lamborghini, a 1932 Ford hot rod and his special Count Kustom chopper — that’s when he’s not working at his Tattoo Shop at The Rio or the Dr. Feelgood’s Bar & Grill on West Sahara in Las Vegas. 

Neil also will release his new solo single “Tattoos & Tequila” on April 6, and his new CD Tattoos & Tequila follows in May.  Check out an advance download sample, the video and his screensaver at VinceNeil.net.

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