Vegas Hotel-Casino News: Maxim, Four Queens, Supper Club Slots - 8 News NOW

Vegas Hotel-Casino News: Maxim, Four Queens, Supper Club Slots

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-- Former Maxim Hotel-Casino Given Go-Ahead to Open by Gaming Board
-- Nevada Regulators Give Go-Ahead To $20 Million Four Queens Sale
-- Vegas Oks Slots In Supper Clubs Despite Tavern Concerns

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Former Maxim Hotel-Casino Given Go-Ahead to Open by Gaming Board
  
(July 3) -- The Nevada Gaming Control Board is recommending the new owners of the former Maxim hotel-casino be licensed to open the remodeled Las Vegas casino.
  
The Westin Casuarina could open Sept. 1, said William Yung III, president of Columbia Sussex Corp.
  
The Fort Mitchell, Ky.-based company announced plans to purchase the 825-room property last year and said it had signed an agreement with the Westin hotel chain to open a Westin-brand hotel.
  
On Wednesday, Yung told board members that with only 325 slot machines, the hotel will be the property's main focus. Final approval will be sought from the Nevada Gaming Commission.
  
Columbia Sussex has spent $27 million remodeling the property just east of the Las Vegas Strip, Yung said. The company is already licensed in Nevada for its Horizon hotel-casino in South Lake Tahoe. The company owns about 50 hotels nationwide, with brands such as Marriott, Hilton and Crowne Plaza.
  
The Yung family owns two small Mississippi casinos and has deals to buy the River Palms in Laughlin and Harrah's Vicksburg, Miss., casino.
  
The Maxim opened in 1979, closed in November 1999, reopened without a casino in December 1999, and closed in August 2001.

Nevada Regulators Give Go-Ahead To $20 Million Four Queens Sale

(July 3) -- A $20.5 million deal to purchase the Four Queens hotel-casino has the endorsement of the Nevada Gaming Control Board.
  
Terry Caudill, who owns more than a dozen bars in southern Nevada, said that if the Nevada Gaming Commission also approves he will take over the downtown Las Vegas hotel-casino later this month.
  
The Gaming Control Board voted 3-0 Wednesday to recommend approval of Caudill's plan to buy the hotel-casino from Elsinore Corp. The Gaming Commission is scheduled to consider the purchase July 24 in Las Vegas.
  
Caudill said he will keep the name of the hotel and convert the Four Queens' 1,200 slots to coinless technology.
 
"The local customer and the downtown customer are both very value-oriented," Caudill said. "Being in touch with locals, I know they are the first to embrace new technology."
  
Caudill said he will retain all current employees except for two top managers who will stay with Elsinore, and will market heavily market to Las Vegas residents and tourists. 
 
"We're really excited about the opportunity to help revitalize downtown," he said.
  
It was Caudill's second appearance before the Nevada Gaming Control Board regarding the Four Queens. A deal to buy the 704-room property fell through last summer after Nevada gaming regulators had already given its approval. At the time, officials with Elsinore Corp. did not disclose why the deal fell through.
  
In April 2000, Las Vegas-based PDS Gaming, then called PDS Financial Corp., backed out of a $30 million deal to buy the Four Queens.
  
Las Vegas investors Ben Goffstein and Tommy Callahan opened the $6 million property in 1966, and sold it to Elsinore Corp. in 1972.
  
(Copyright 2003 by The Associated Press.  All Rights Reserved.)

Vegas Oks Slots In Supper Clubs Despite Tavern Concerns
  
(July 3) -- It'll be easier to eat and play slots in Las Vegas.  Despite protests from local tavern owners, the City Council has decided to allow supper clubs to operate up to five slot machines. A supper club is a restaurant that may have a bar area, but most of its income comes from food sales.

The ordinance will not apply to restaurants east of the Strip where the city is trying to establish an entertainment district. The move will require supper clubs to obtain a special use permit to operate the machines.

Tavern owners, who may operate up to 15 slots in their businesses, say the new law will put too many slots in some areas.
 
Restaurants in nearby unincorporated Clark County, Henderson and North Las Vegas already allow slot machines in supper clubs. 
  
(Copyright 2003 by The Associated Press.  All Rights Reserved.)

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