Hotel & Casino w/ Land Sale
Location:
Removed from Contingent Status.
Reno Nevada: Hotel & Casino on the main strip, on 42 acres of land.
The hotel has 3400 bedrooms and the Casino is 134,000 square feet.
With so much land in a prime position, you could build another hotel and casino, or you could extend the hotel up to 8000 bedrooms and make the existing casino 50% bigger.
The price is $1.35 billion dollars and the business is showing a net operating income of $240m a year.
The Hotel has currently 3 Stars.
I am a Seller Rep charged with finding a buyer to connect directly to the seller group to evaluate and close for this transaction. The Principal group usually has partnerships with their projects/assets, however this is the only one they own outright/solely, for a deal to be done. They have given us a window but will develop and hold themselves from October.
All buyers must qualify themselves with Sellers / Principal team with a BIO, POF's and LOI to start the process.
An NDA_NDNC must be completed to start the process with a 1% Sellers fee included and
split between the seller and buyer team.
NDA with sellers fee and buyers fee split must be signed and agreeded to move forward.
Buyers must submit BIO, POF and LOI to get any numbers and operational details.
Financials (USD)
Asking Price $1,350,000,000
Cash Flow $240,000,000
Sales Not Disclosed
Deal Terms
Represented by broker? Yes
Buyer Fee? Yes
Seller Financing? Available On Request
Willing to co-broke? Yes
Principals only? Available On Request
Franchise? Available On Request
Management will stay? Yes
Relocatable? No
Real Estate? Yes
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