For about 10 years (maybe more) Caesars was trying to sell the Rio All-Suites Hotel Casino.
For ten years (maybe more), I did my best to find them a buyer.
Well, looks like I failed.
But, given parameters that were NOT held up by the Buyer in the final outcome, I don't feel like a failure.
You see, it was Caesar's decision to undersell the Rio.
When I was trying to sell this property, I was told that $1 Billion or more was the sales price. well, I took that as the God's Truth since most 'Strip' properties sell in the $10 Million an acre range.
But, I do know that there is one buyer who must feel completely used for way over paying for a dilapidated resort that is NOT even functional.
(He paid $600 million for a property he will need to invest almost a Billion into to complete it.)
Then, again, the Rio will need probably a Billion to fix/repair from the way Caesar's ran it into the ground during their tenure as owner.
Oh, well!
Another day, another dollar.
If interested in a Las Vegas Resort; OR, if you are interested in any type of Las Vegas investment...
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
For ten years (maybe more), I did my best to find them a buyer.
Well, looks like I failed.
But, given parameters that were NOT held up by the Buyer in the final outcome, I don't feel like a failure.
You see, it was Caesar's decision to undersell the Rio.
When I was trying to sell this property, I was told that $1 Billion or more was the sales price. well, I took that as the God's Truth since most 'Strip' properties sell in the $10 Million an acre range.
But, I do know that there is one buyer who must feel completely used for way over paying for a dilapidated resort that is NOT even functional.
(He paid $600 million for a property he will need to invest almost a Billion into to complete it.)
Then, again, the Rio will need probably a Billion to fix/repair from the way Caesar's ran it into the ground during their tenure as owner.
Oh, well!
Another day, another dollar.
If interested in a Las Vegas Resort; OR, if you are interested in any type of Las Vegas investment...
To Contact David Howes try: davidATdavidhowesDOTnet OR; 7 0 2 5 01 9 3 8 8 AND Please #Follow David on Twitter: @DavidAHowes Have a nice day!
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.