Own an (expensive) piece of Vegas

Interesting piece in the LV Sun about casinos for sale:

You might not think there are any casinos for sale in town, but for the right price – think Bellagio – just about any joint might be in play, especially downtown.

But watch out. Like with buying a house, you need to do your homework and read the disclosure statements before signing those escrow papers. Not every casino is growing a money tree out back.

“You’ve got to have a facility that makes sense because it’s got a good location and good parking,” says Michael Gaughan, owner of the South Point and a second-generation casino operator. “You’ve got to have good management. And you’ve got to have people. These places (that struggle) are missing one of the three.”

So, having been forewarned, ask your broker to show you these places if you want to keep up with the Kerkorians.

Las Vegas SUN: Own your own casino

You can click through to see the actual list, with suggested retail prices.

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