Binion’s to be Sold to Owner of Four Queens


Binion's  in downtown Vegas to be Sold to Owner of Four QueensLate yesterday MTR Gaming Group Inc. said in a press release that they intend to sell their Binion’s property to TLC Casino Enterprises Inc. for a reported $32 million.

MTR bought the property three years ago from Harrah’s Entertainment for $20 million, but found it tough going in the downtown market. Last year Binion’s barely broke even in profits and this year, it has posted a loss of over $1 million so far.

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TLC is no stranger to the downtown Vegas casino market, as it owns the newly renovated Four Queens, a mere one block from Binion’s. They said in a companion statement that they intend to retain the casino-hotel’s current employees once the deal is complete.

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The deal still has to be approved by the City of Las Vegas, along with the state gambling board, before anything can change hands.