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Owner of PT’s Pubs to buy Stratosphere, 3 other Nevada casinos

Discussion in 'Casino Industry & Development' started by nfajgmbr03, Jun 29, 2017.

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  1. nfajgmbr03

    nfajgmbr03 MIA

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  2. dmr

    dmr Registered Abuser

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    Why not.

    PTs has quite a local market with the Beer For Lunch Bunch and the Friday after-work crowd.

    I've jokingly said that you can't drive a mile in LV without passing a PTs.
     
  3. nfajgmbr03

    nfajgmbr03 MIA

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    Between that and Dotty's they are all over vegas. Curious to see how they approach this. No longer a corner bar.
     
  4. saintpauljeff

    saintpauljeff VIP Whale

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    Never heard of PTs
     
  5. TJC

    TJC High-Roller

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    The Stratosphere could be fun if their vp was better, blackjack was 3:2, the slots actually paid out now and then, the hotel a/c was worth a crap, and the night time crowd wasn't so rough. We'll see what they do with the joint.
    It's interesting that the four properties were just purchased for about 75% of what they went for in 2007.
     
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  6. bluesdude

    bluesdude VIP Whale

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    Neither have I. What are they?
     
    Maybe not this year. Looking forward to 2021!
  7. Sonya

    Sonya Queen of VMB

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  8. dmr

    dmr Registered Abuser

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    Local chain of bars that might arguably be called casinos. Very popular with locals. The one by the airport on Sunset is great for watching planes take off and land.

    I'm very surprised that people who visit frequently have not heard of them. They are ALL OVER the place. On the other hand, none of them that I know of are immediately in the popular visitor areas and I don't think they advertise in any of the in-room mags and such.
     
  9. Sonya

    Sonya Queen of VMB

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    This. I have seen them driving around the outlying areas, but never wandering in the typical tourist areas.
     
  10. Joe

    Joe VIP Whale

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    In Clark County, if you don't have a casino license, then you can still have 15 bartop machines. I visited a few PT's and some others who had bartops, but nothing else was permitted. Some of them actually had pretty good food.

    Apparently there is lots of money to be made in just bartop games. Duh!!
     
  11. shokhead

    shokhead No big spender unless eating drinking having fun!

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    Didn't even know the Stratosphere was for sale. It's so isolated.
     
    The Nugget!
  12. srudude87

    srudude87 Low-Roller

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    I'm hoping my play at Rocky Gap in Cumberland, MD gets me a nice deal at Strat, just like when Hollywood bought the Trop.
     
  13. 93 Octane

    93 Octane Chief bottle washer

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    So this pub chain is taking 1.1 Billion dollars in debt to do the deal?? This won't turn out well
     
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  14. dmr

    dmr Registered Abuser

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    The closest one to the Strip that I can think of immediately is on Sahara not that far east of the SLS.
     
  15. TomTWI

    TomTWI Custom Title

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    Very nice chain of Nevada Style pubs. Very good food in my experience.

    TomTWI
     
  16. TomTWI

    TomTWI Custom Title

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    Totally agree with you, I want to gamble when I go there but just can't. So I've stopped going there.

    I do like Arizona Charlies East for low rolling but the West side one, not so much too smokey most of the time.

    TomTWI
     
    Last edited: Jul 2, 2017
  17. TJC

    TJC High-Roller

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    The Player Development and Food and Beverage departments were led, staffed, and ran very well, but those alone can't buoy a property. I had one of my best meals ever at McCall's and the cafe at Az Charlie's is great too but vittles, and comped ones at that, are a much smaller reason why I go to Vegas.
     
  18. leo21

    leo21 VIP Whale

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    $850m for four casinos is a good deal, even if they are smaller ones. Merging the customer bases should help both ends of the business.
     
  19. chitownjohn

    chitownjohn High-Roller

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    At face value I would agree, a pub chain taking over a bunch of casinos seems like they bit off more than they can chew. However a deeper dive reveals that Golden Entertainment, which already owns casinos, is the buyer. Seems like a good buy, time will tell.

    Golden Entertainment, formerly Lakes Entertainment, Inc., offers an unmatched blend of gaming diversity.
    Through its three dynamic gaming divisions — Golden Casino Group, PT’s Entertainment Group and Golden Route Operations — the company operates more than 12,000 slot machines and video lottery terminals, as well as approximately 30 table games in Nevada, Montana and Maryland across four casino properties, over 50 taverns and approximately 980 route locations.
     
  20. TomTWI

    TomTWI Custom Title

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    Try the one on Jones and Sunset, very nice bar. It is right in front of Golden Entertainment headquarters building.

    TomTWI
     
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