MGM Mirage sells Primm Valley Resorts
April 9, 2007
Today in online gambling news, we are covering an interesting sale of an MGM Mirage property. MGM Mirage and Herbst Gaming, just announced that they have concluded their formerly announced deal involving the sale of Buffalo Bill's, Primm Valley as well as Whiskey Pete's hotel casino located in Primm, Nevada to Herbst Gaming for $400 million. This is an impressive amount of cash for the three properties known as Primm Valley Resorts.
So, the sale is finished and Herbst has its work cut out. The President of Hebst, who works with his brothers, stated that they were extremely excited about the purchase of the 3 casino properties in Nevada.
He also went on to say that Herbst very much looks forward to enduring and building upon the heritage that started at these casino and resort properties by the Primm family.
Located within the Interstate 15 corridor, Primm Valley is an oasis of gambling. Some of our online gambling fans have visited this area that is just about 40 miles south of Las Vegas.
The new property has more than 2,600 hotel rooms, nearly 138,000 square feet of casino gambling space, more than 2,800 slot machines and almost 100 casino table games.
Because the property is somewhat in the middle of nowhere, there is a gas station complex as well as stores for convenience � such as you would find at any major highway exit when traveling on an Interstate � only this area has resorts and gambling too.
The property borders California and actual has many acres in California that were not part of the sale � however Herbst will manage that acreage fro MGM Mirage. It includes a beautiful golf course � the Primm Valley Golf Club.
MGM Mirage estimates to report a considerable increase in the second quarter. This sale is definitely one good reason for that. MGM Mirage only bought the Primm Valley property 8 years ago and has said to have made good money on the deal with Herbst. The purchase was then part of its buying of Primadonna Resorts in 1999.
Here at GamblingPhD.com, we find stories such as these interesting and we hope our online gambling casino fans out there like them as well. Any time there are big casino deals happening, you have to find out the deals involved. What is interesting about this story is that MGM Mirage only bought the property somewhat recently, made big changes to it and sold it to another family run company.
When checking out the website, we found the property to look pretty good for an Interstate area way outside Las Vegas. It seems the location is ideal for those coming and going from Vegas. If you cannot wait to gamble on your way to Las Vegas, you can do it here. If you are leaving Las Vegas by car and want some last minute Nevada gambling action (and even a round of golf) you have it here.
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