Home » VT News » Golden Gate Buys Fitzgeralds in Estate Sale

Golden Gate Buys Fitzgeralds in Estate Sale

By Chuckmonster on Friday, 30th September 2011 12:24pm
  » filed under Mergers & Acquisitions  comments: 9

   

Cries of horror accompanied the reading of casino impresario and cable tv magnate Don Barden's will yesterday as he left the crown jewel in his empire, the shoddy o'lucky Fitzgeralds casino to a Boulder City call girl.

Oh wait, sorry, I must've put on my Misnomer pants this morning. These things are tight in the clutch!

Our buddy Ben Spillman at the RJ has the scoop that the owners of the Golden Gate, who recently announced a major expansion, have bought Fitzgeralds casino from trustees empowered to handle the estate of casino impresario and cable tv magnate Don Barden.

Read the details of the transaction right here.

This is fantastic news for downtown. Shortly before the great recession, Boyd Gaming sunk a ton of money into their properties including the rooms, in the hopes that they would redirect Stardust devotees downtown. Golden Nugget has been completely reborn. El Cortez has been renovated and reenergized. The Plaza has been majorly upgraded and Vegas Club will be next. The Golden Gate has been refreshed and is on the verge of expanding. Now Fitzgeralds will see the benefits of love and a whole bunch of equity attention.

Doritos!



Tagged: golden gate   fitzgeralds   





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Comments & Discussion:

This is awesome! The owners of Golden Gate obviously take great care and pride in their property and I can't wait to see some of that affection go towards the tired old Fitz. Now if only Binion's can have it's rebirth sooner then later...

Interesting that this deal had been in the works for a number of months even before My. Barden's passing. Considering what has happened over at the Golden Gate in the last several years, you know whatever they decide to do with the Fitz will be a good thing. Since they're going for that "Roaring 20s" theme at the Golden Gate, I would not be surprised if the "Vintage Vegas" theme mentioned for the second floor of the casino isn't the main theme for the property. I wonder who owns the trademarks for the Mint, as that would be the perfect name to use on the place since they intend to rebrand the property.

I love downtown! way more bang for your buck

I agree that this is great news. The Stevens brothers have certainly been willing to invest in Las Vegas. I think the Fitz always looked like it could work well with some capex. Here's hoping it does.

I would have never believe that the best thing to come out of the Great Recession would the resurgence of Downtown. Now all we need is Binions opening their hotel and Vegas Club remodel.

They won't have to do much to theme the second floor as Vintage Vegas. It already is with a plethora of ancient video poker and slots. Unquestionably, the Vue Bar area is under-publicized ($2 Heineken drafts, 8/5 Bonus poker with progressives that make it 100% payback). I'm only sad to see this because there goes one of favorite places to hide, play VP, and drink.

I love Downtown but haven't had a reason to go into the Fitz in years. It has real potential. O'Lucky wishes to the new owners!

Great ! of all the casinos in Fremont, Fitz is the one ( along with Vegas Club ) that I really wanted to see keeping up with their neighbors. Last month I've only stopped for a couple of hands at Fitz, is not that bad, but really needs to improve.

I love Downtown and this is good news for downtown!



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