The future ownership of Mesquite Gaming, a proprietor of two prominent casino resorts in Nevada, hangs in the balance as the company seems poised for auction. The Casablanca in Mesquite, currently run by Mesquite Gaming, could soon change hands.
A meeting agenda on November 1 by the Nevada Gaming Control Board (NGCB) indicates a review of gaming suitability applications from Matthew Wilson, Jordon Kruse, and David Quick. These individuals each hold a 33.33% stake in a Los Angeles-based firm, Mesquite TopCo LLC. Legal argot such as ‘bidco’ and ‘opco’—frequently utilized during corporate merger and acquisition preparations—are notable in the documentation.
The agenda furthers hints at an anticipated administration change at Mesquite Gaming. The NGCB is set to deliberate on a proposal to grant Mesquite TopCo LLC registration as a private investment firm. In addition, the agency will review an application to shift an option to Mesquite Parent, LLC, replacing 40% of the membership interest in Mesquite Gaming per an adjustable note accord.
Following the proposed change, the 40% interest would transition to an entity known as Mesquite BidCo, sharing an address with Mesquite TopCo. A proposed buying price for the privately-owned gaming company remains undisclosed.
Mesquite Gaming’s portfolio includes the CasaBlanca Resort and Virgin River Hotel & Casino, located 77 miles away from Las Vegas. The two properties collectively boast 1,186 guest rooms, 76,000 square feet of casino space inclusive of 1,600 slot machines and 36 gaming tables, and 70,000 square feet of meeting and convention facilities.
Recent reports suggest the stakes in Mesquite Gaming distribution have taken a turn. Notably, Michael J. Gaughn Family, LLC reportedly holds 35% ownership of Mesquite, while Anthony Toti and Michael Gaughn control 25% each. Meanwhile, Newport Global Advisors LP previously rumoured to hold a 40% controlling stake, has made no mention of Mesquite Gaming on its official website.
Internet chatter on Monday hinted at the potential purchase of Mesquite Gaming by Oak View Group, although no official confirmation underpins these conjectures.
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