Barrick Hampered By Debt

[Hunter]

Article in the Sun suggests downtown's Barrick is having debt issues:

http://www.lasvegassun.com/sunbin/stories/business/2005/jun/27/518966465.html

[DonD]

I heard of these problems on my last trip there a few weeks ago. They seem to have an awful lot of people in suits with big titles that they did not have when Jackie owned it. Hope that things turn out alright. I have been going there for over 25 years.

[JScott276]

By God Barrick!!!! If you %$#@ up Jackie's empire I will &%$#ing see you burn in *&^%%!!!!

[Hunter]

Looks like the lender is buying out Barrick:

http://www.vegastripping.com/news/news.php?news_id=629

[SH0CK]

Now the next question...

Will they look for a buyer or will they run them indefinately?

Myself, I believe this would be a good place for Colony to get into downtown, or possibly Staions.

Either way, this should be interesting to watch.

[HoyaHeel]

All I wanna know is when will they bring back my mudslide machine at the LVC bar??!!:soapbox:

[doctor_al]

This doesn't look good, at least in the short term. Barrick has been hit and miss as an owner, but at least they were trying.

Barrick out, Poster out... somewhere Mark Brandenburg is just shaking his head.

[Jer]

Bring back the Plaza Diner.. . Best food in there! All of that could be ordered by room service, and it was just as good...

Maybe this may get them in gear... There are a lot of mixed feelings about when Barrick took over. With one good thing presented two or three bad ones...

Who knows???

[SH0CK]

Well at least they got the smell out of the Plaza...

[doctor_al]

More clarity:
http://www.lasvegassun.com/sunbin/stories/business/2005/jun/28/518971202.html

In short, Barrick himself appears to be getting forced out but the rest of the "management team' is staying. Sounds like he was every bit as good at running a casino as Tim and Tom. Or the Donald.

[Vegasman]

May I forward some sarcastic kudos to the Nevada Gaming Commission for their indepth and just plain super investigation of both the Golden Nugget Twins and Barrick Gaming. Gee, both of these stellar ownership groups should be applauded for their committment to downtown Vegas as well! :)

[DonD]

Here is an update:
http://www.reviewjournal.com/lvrj_home/2005/Jun-30-Thu-2005/business/2328055.html

[doctor_al]

Significant new info: management will be transferred from the Barrick guys to the "Navegante Group" headed by Larry Woolf. Salient quote:

"I wanted to make sure people knew there would be no major changes in the casino operations during the 60-to-90-day window (until Navegante is licensed)," Siller said after the hearing.

[bluestreak]

I try to make Golden Nugget Laughlin my home base. These folks don't know what is going on. Looks like Landrys gets them by default.

I did actually get some Barrick mail for the summer.

[Jacko]

I have to think over the long haul, Larry Woolf will do a much better job than Barrick did.

However struggling to meet Mortgage payments and needing money for operations, means NO improvements and less service.

I think I'll stay away from those properties for a while.