Possible rewording: Mesquite Gaming may be preparing for a potential sale.
It seems that Mesquite Gaming, LLC, the proprietor of two casino resorts located in the Nevada city bearing the same name, is up for sale.
The Casablanca Resort in Mesquite, Nevada may be put up for sale by its owner, Mesquite Gaming. (Image: Casablanca Resort/Twitter)
The NGCB’s agenda for their meeting on November 1st includes a review of gaming suitability applications for Matthew Wilson, Jordon Kruse, and David Quick, who are all 33.33% owners of Mesquite TopCo LLC, located in Los Angeles. Lawyers often use terms like “bidco” and “opco” when preparing companies for mergers and acquisitions.
The NGCB meeting schedule also contains a topic stating that the organization will review the possibility of approving Mesquite TopCo as a privately-owned investment firm, as well as a request to transfer an option to Mesquite Parent, LLC for the acquisition of a 40% ownership stake in Mesquite Gaming through a convertible note arrangement.
Afterwards, the 40% interest would be moved to a company called Mesquite BidCo, which shares the same location as Mesquite TopCo. The NGCB agenda does not specify a potential buying price for the privately owned gaming company.
Inside Mesquite Gaming
Mesquite Gaming is the owner and operator of the CasaBlanca Resort and Virgin River Hotel & Casino in Mesquite, Nevada. It is situated 77 miles away from Las Vegas.
The company reports that the two properties have a total of 1,186 guest rooms, 76,000 square feet of casino space with 1,600 slot machines and 36 gaming tables, and 70,000 square feet of meeting and convention space, which also includes an outdoor entertainment venue.
In September 2022, it was reported by certain sources that Newport Global Advisors LP, an investment firm based in Woodlands, Texas, had a 40% stake in Mesquite gaming. The CEO, Anthony Toti, and Michael Gaughn each held a 25% share. According to the NGCB agenda, an entity called Michael J. Gaughn Family, LLC has a 35% ownership of Mesquite.
Gaughn, one of the biggest names in Las Vegas gaming, owns the South Point Hotel, Casino & Spa and controls the slot machines at Harry Reid International Airport.
Newport Global Advisors doesn’t mention Mesquite Gaming on its website, but its prior investments include Eldorado Resorts, the company that bought Caesars Entertainment for $17.3 billion in 2020. Additionally, the investment firm noted it focuses on firms with enterprise values of $50 million to $750 million, a bill likely fit by Mesquite.
There are many rumors circulating about Mesquite Gaming.
On Monday, there were scattered online discussions about the future of Mesquite Gaming, with one user on X (formerly known as Twitter) mentioning rumors of a potential sale that have been circulating for a while.
According to Scott Roeben from Vital Vegas, a potential buyer for Mesquite could be a company called Oak View Group. However, this has not been officially confirmed yet.
Oak View has a connection to Las Vegas through a collaboration with Sphere and Entertainment, as well as its own initiatives to build a casino resort and arena. Its previous ventures have been on a larger scale and in bigger cities compared to Mesquite.
It’s possible that Mesquite Gaming is preparing for a sale, according to a post on Casino.org.
