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The Sparks Nugget.

 
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spdmrcht



Joined: 12 Oct 2012
Posts: 483

PostPosted: Feb Fri 12, 2016 9:43 am    Post subject: The Sparks Nugget. Reply with quote

OOOOh, Just read that the Nugget is being bought by the owners of
the Edgewater, and Colorado Belle in Laughlin!

And the other shoe drops! There is a lawsuit against the first owners
by the 2nd owners, they are selling it to the 3rd owners. Got that??
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remano



Joined: 20 Dec 2005
Posts: 717

PostPosted: Feb Fri 12, 2016 6:43 pm    Post subject: Reply with quote

Yes, I've got it. From what I understand from the local press the Ascuagas have sued their buyers for $500,000 for what they claim is still due for purchase of the property. In the meantime they are being investigated by the Feds for failure to supervise and report large cash transactions (over $10,000) as required to catch money laundering operations, though no conclusions have yet been reached.

So, basically, Ascuagas filed suit saying "You still owe us half a mil." Buyers responded saying "We don't owe it because ... HEY, LOOK OVER THERE, IT'S AN INVESTIGATION...."

The new buyers are on record saying this whole thing doesn't involve them. The lawsuit is between Ascuagas and their buyers, the investigation is between Ascuagas and the feds. Whatever those results, the new buyers still own the property and are going forward with their plans, assuming gaming control board approval. They will not be responsible for anything coming down against the others. They have a good record with their other properties. The current owners were quoted in today's papers saying the purchase offer was totally unsolicited, they weren't trying to market the property but the buyers came out of the blue with an offer that was too good to turn down.

I wish them the greatest success.
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JD



Joined: 18 Dec 2005
Posts: 948

PostPosted: Feb Fri 12, 2016 7:21 pm    Post subject: Flipping Reply with quote

I have a lot of first hand knowledge of the recent flipping fad in Reno the last couple of years. (Buy me a beer and I can do a half hour stand up routine).


But I had NO IDEA the slimy local Realtors are even jumping into the casino deals now. They just cannot stand a straight forward seller and buyer without carving out two commissions AND a tidy profit.
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spdmrcht



Joined: 12 Oct 2012
Posts: 483

PostPosted: Feb Fri 12, 2016 8:39 pm    Post subject: Reply with quote

Well what ever the out come I hope it comes out a whole lot better
then the Edgewater or Colorado belle?? I like the nugget just the way
it is. Leave it alone!!
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