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Hooters Sale Hosed

By Chuckmonster on Monday, 9th June 2008 4:52pm
  » filed under Mergers & Acquisitions  comments: 1


Forbes is reporting that the proposed sale of the exquisite and delightfully tacky Hooters Hotel & Casino has gone "bust" (their words not ours).

Hooters honchos cancelled the deal after proposed buyer Hedwigs (with or w/o the angry inch?) failed to Fed Ex a 500k payment on top of the $5.5M they've already inserted dropped into the till.

Hooters is now exploring other options for unloading their "ample assets" (again, their words not ours).

If nobody steps up to the plate to buy the place, there's a damn good chance that Hooters just might close. Adding the Hooters parcel to the overall footprint of the neighboring Tropicana would be a great acquisition, if the Trop itself wasn't already sinking in debtload.

If I were an exec at MGM Mirage, I'd pull a Dan Lee and set up a fraudulent business front to buy Hooters for a song (so as not to raise suspicions at Tropicana Resorts, as Mr. Lee did when amassing the landbank currently known as CityCenter when working at Mirage Resorts) then snap up the Trop just before their heads go below the waterline in the fall. Seems like a no-brainer to get the Sultans of Dubai to wire some money to MGM Mirage's PayPal account.



Comments & Discussion:

There was also that story recently that Larry Flynt was looking to buy a Las Vegas casino - maybe he should make a bid. It would make a delicious sort of sense.

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