wpt online poker and casinos foray into the largest US gaming destination with the purchase of Hooters Las Vegas, which was announced today. As Casino.org reported last month, MGM Resorts is considering sales of the Bellagio and MGM Grand to generate more cash from its real estate portfolio.We can’t wait to welcome you to our first hotel in Las Vegas,” said OYO Hotels & Homes USA COO Abhinav Sinha in a statement.The conversion to a property called the OYO Hotel & Casino from the Hooters Casino Hotel is expected to be finalized before the end of this year.OYO will renovate the property with a real estate investment trust (REIT) called Highgate. seminole casino 4th of julyBut it is widely expected that gaming real estate activity on the Strip will heat up.Earlier this year, private equity company Blackstone was said to be looking for a buyer for the Cosmopolitan, and more recently, speculation has swirled that Eldorado Resorts could sell a Caesars Strip asset when the .3 billion takeover of that company is completed in the first half of 2020. US stock markets crashed on Friday after President Donald Trump ordered companies to find alternatives to doing business with China during the ongoing trade war between the two countries. When cclab 3 casino near meompleted, the new OYO Hotel & Casino will have 657 guestrooms across 19 floors and a 35,000-square foot gaming area. four winds casino drug test

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sycuan casino ageEarlier this month, it was reported that the Hard Rock Hotel & Casino will close for eight months next year as it transitions to the Virgin Hotel Las Vegas.Deep PocketsFounded in 2013 by 19-year-old Ritesh Agarwal, OYO initially focused on its home market of India, where it’s now the biggest hospitality company in Asia’s third-largest economy. Prior to news of the Hooters acquisition, OYO had 112 hotels in 60 US cities in 21 states.Classified as a startup, OYO is valued at billion after raising .7 billion through 12 funding rounds, and has attracted investments from some of the venture capital world’s marquee names, including Lightspeed Venture Partners, Greenoaks Capital, and Softbank’s Softbank Vision Fund.Softbank of Japan, one of the world’s largest venture capital firms, is known for early investments in companies such as Alibaba, Slack, and Uber, among others. The Indian company isn’t running afoul of Silver State regulators because Paragon Gaming, the license holder for Hooters, will maintain that license through OYO’s purchase of the venue, said the Nevada Gaming Commission (NGC) to Casino.org.Paragon is familiar to the NGC, as the company manages gaming operations at the Westgate in Las Vegas as well as the Hard Rock in Lake Tahoe. best casino sites free spinsThe Indian company isn’t running afoul of Silver State regulators because Paragon Gaming, the license holder for Hooters, will maintain that license through OYO’s purchase of the venue, said the Nevada Gaming Commission (NGC) to Casino.org.Paragon is familiar to the NGC, as the company manages gaming operations at the Westgate in Las Vegas as well as the Hard Rock in Lake Tahoe. Financial terms of the deal weren’t disclosed by the companies, but sources involved with the deal believe India-based OYO paid 5 million for the Nevada property.It’s not everyday that international buyers hit Las Vegas, and there could be regulatory issues associated with such moves, particularly when the buyer, like OYO, hasn’t previously been active in Nevada. Over the years, the company has expanded to China, Europe, and the US, and now manages more than 23,000 properties around the world.OYO’s Vegas deal jibes with previously announced US expansion plans. island resort and casino poker

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