News from July 1, 2014 River Palms was just sold again, this time for 6.75 Million. Read the Details Here
The article below is about the previous attempted sale that fell through.
Update: As of October 14, 2013 the pending sale was terminated. See details here.
The River Palms Hotel and Casino in Laughlin has been sold for a reported $7 million dollars.
Sale of the 1001 room hotel and casino was made to M1 Gaming, based out of Reno, NV. Station Casinos based in Las Vegas had also been interested in the acquiring the property.
M1 gaming is headed by CEO Dean DiLullo, who said "We plan to make a significant investment in the property and in the Laughlin market. We look forward to building a strong team and developing the River Palms to its fullest potential."
Dean DiLullo was formerly Executive Vice President and Chief Operating Officer with Planet Hollywood Resort and Casino in Las Vegas. Before that he was an Executive with Station Casinos for 12 years.
Tropicana Entertainment Inc, which locally also owns the Tropicana Laughlin, will continue to operate the River Palms until the sale is completed. The final transaction is pending Nevada gaming regulators approval, expected sometime this fall.
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| The River Palms is located on the banks of the Colorado River on Casino Drive |
Apparently Tropicana Casino has backed out of the sale of River Palms - Why is there no information on the internet about this? And what will happen to River Palms now?
ReplyDeleteThe notification is on the Tropicana website investor relations page in the SEC filings. They say future plans are being evaluated.
ReplyDeleteWell then Trop may as well close the place down, because they haven't done anything to revive the place... all they do is take from it!
ReplyDeleteI love coming to River Palms every year, but they should have never taken out a whole floor of games and entertainment.. Maybe if they did something with all the emptiness it would be doing better because the rooms are already awesome!
ReplyDeleteI was in Laughlin last week on vacation and I came by River Palms. I was dismayed. I believe the company that bought it got a sweet deal. If the new company cannot afford to upgrade it to its past glory, sell it. Laughlin looks like a ghost town and there's more action in Bullhead City.
ReplyDeleteI was on vacation in Laughlin last week and I came by the River Palms. I was dismayed. The new company got a sweet deal on it. If the new company cannot afford to bring it to it's past glory, sell it. No disrespect but Laughlin looks like a ghost town. Bullhead City has more action.
ReplyDelete