Newport Global Advisors completes Mesquite Gaming sale in Nevada
Mesquite Gaming owns and operates the Casablanca Hotel & Casino and Virgin River Hotel & Casino.
US.- Newport Global Advisors has announced the completion of the sale of Mesquite Gaming. The release does not mention the financial terms not the identity of the buyer, but it’s presumably Mesquite OCM Voteco LLC, an Oaktree Capital Management fund, as announced in previous releases.
Located in Mesquite, Nevada, Mesquite Gaming owns and operates the Casablanca Hotel & Casino and Virgin River Hotel & Casino. Newport invested in Black Gaming’s debt securities in August 2008. In 2011, the company partnered with Michael Gaughan and Anthony Toti to restructure Black Gaming into Mesquite Gaming. Brendan Gaughan and Kathleen Gaughan Banuelos, together with Anthony Toti, Timothy Janszen, and Ryan Langdon formed a board of directors of the restructured company.
Timothy Janszen, CEO at Newport, said: “We want to thank Michael and Anthony for their partnership over the last 12 years. This exit represents a terrific accomplishment for the entire team and it could not have been achieved without their deep and unmatched industry expertise.”
Ryan Langdon, Newport’s senior managing director, added: “We could not be happier about the outcome and are delighted to be able to provide a great return to our investors.”
Anthony Toti, former chairman and CEO, commented: “I am proud of our team’s achievements and the support of Michael Gaughan and Newport. We are thrilled to have delivered such a terrific result.”
Nevada gaming revenue reaches $1.37bn in November
The Nevada Gaming Control Board’s (NGCB) has reported that the state’s casinos generated $1.37bn in gaming revenue in November, a 12.56 per cent increase from the same month in 2022. In October 2023, the state’s casinos generated $1.31bn in revenue.
According to the report, Clark County, which includes the Strip, downtown Las Vegas, North Las Vegas, the Boulder Strip and surrounding areas, registered $1.2bn in revenue, a 14.43 per cent increase. Carson Valley Area reported a win of $11.1m, a 9.21 per cent increase.
