Barrack Gaming betting on
Downtown LV
October 13
Barrack Gaming
Corp., the same company that
purchased 4 casino properties in
downtown Las Vegas has already
purchased two more motels for
additional renovations, and they are
planning to purchase even more land
in the Downtown area on Main Street.
Barrick bought
the Plaza, Las Vegas Club, Gold
Spike and Western casinos for a
reported $82 million last March.
Just this month the company signed
papers to buy the Queen of Hearts
Hotel and the Nevada Hotel for just
over $7million.
In addition to
casino and motel purchases, Barrick
just bought a parking lot near the
Nevada Hotel which had a reported $1
million price tag.
Barrick and
New York private equity group
Tamares Real Estate purchased the
properties from Ann Meyers. Meyers
has owned the properties since she
bought them from gaming pioneer
Jackie Gaughan many years ago.
Barrick
President Stephen Crystal announced
that the land, along with planned
future purchases in the same area
will be large enough to make-way for
a huge remodeling project along in
the Main Street area. The project
will be secured by the Plaza.
Even though
Barrick has yet to decide exactly
what to eventually construct on the
newly purchased land,it is thought
that the company is interested in a
residential complex, perhaps a
high-rise building. Future projects
will also likely include some form
of gaming as well.
