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StumbleCasino exec in talks with Black Gaming over Mesquite casinos
The Oasis casino in Mesquite, owned by Black Gaming, temporarily closed its doors in December 2008. The highway billboard for Oasis now advertises Virgin River, another one of Black Gaming’s casinos in Mesquite.
Friday, Dec. 11, 2009 | 3:29 p.m.
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A former Coast Casinos Inc. executive is involved in talks to take over some of Black Gaming LLC’s struggling hotel-casino operations in Mesquite.
In Business Las Vegas Television, an affiliate of the In Business Las Vegas newspaper and the Las Vegas Sun, reported today that Franklin Toti is in talks with Black Gaming.
Toti was a director and vice president of casino operations at Coast Casinos Inc. before Coast was acquired by Boyd Gaming Corp. in a deal completed in 2004.
Toti is a longtime business partner of Michael Gaughan, who was chairman and chief executive of Coast. Gaughan now owns the South Point hotel-casino, where Toti is an executive.
Toti’s son, Anthony Toti, is Black Gaming’s chief operating officer and is a former executive with Coast Casinos.
Michael Gaughan today confirmed his longtime partner, Franklin Toti, is in talks with Black Gaming about the Mesquite casinos.
Michael Gaughan declined to say whether he would invest in any deal with Toti for the Black Gaming properties.
“That’s between me and Frank,” he said.
"They’re working it out with the banks," Gaughan said of the talks between Franklin Toti and Black Gaming.
"I’m retired. I’m down to one place," Gaughan said of his South Point property on Las Vegas Boulevard.
Hit hard by the recession, Black Gaming said net revenue for the third quarter ending June 30 was $27.3 million, down from $36 million in the year-ago.
The company lost $4.8 million in the 2009 quarter, an improvement from the $20.3 million lost in the year-ago quarter.
Black Gaming, in default on more than $205 million in debt, has closed most of its Oasis hotel-casino while keeping the CasaBlanca and Virgin River properties open.
Besides the Toti family ties between the South Point and the Black Gaming properties, the South Point’s sports book runs -- under a pool arrangement -- the Black Gaming properties’ sports books.
The South Point sports book -- under the pool arrangement -- also runs other Las Vegas-area sports books at the El Cortez, the Palms and Cannery Casino Resorts’ Rampart Casino and its two Cannery casinos.
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Michael Gaughan has kept the Vegas tradition alive.. He knows how to treat people and it shows.. go to the South Point at any time and there is more customers there than any strip property.. You never hear anything negitive from anyone!! Being privatly held he shows his books to no one and I would say they are making a profit each quater.. Michael keep up the good work and I will continue to spend my gaming / entertainment money at the SOUTH POINT!
I don't know if this guy is related to Gaughan but Southpoint is no better or worse than the other Casinos. As a matter affect their slots are Tighter than most of the casinos even tho they advertise LOOSER SLOTS! BTW this is how u spell NEGATIVE!!
chaz: you're probably right on all points; however, South Point's high ceilings do tend to dissipate the cigarette smoke that otherwise ruins all casinos.
"As a matter affect" ??? Did you mean to say "As a matter of fact" ??
they do the restaurants right and the sports book is good--the casino is home to the rudest, most inexperienced collection of useless non-dealing and rude dealers and supervisors. we drive many miles to go to other places to play because of how rude this place is. Every coast property is always run and managed by friends of the family in the key positions, so no matter how poorly they treat the customers and staff they never get fired, and it really shows on the casino floor--horrible.
The bottom line is that when Obama, Reid and Pelosi are done, there won't be any disposible income available for the frolic that casino gaming provides. Harry Reid is destroying Nevada's economy.
I am a big "fan" of the South Point Hotel and Casino. A phantastic resort with everything the players want. As a matter of fact, this has also been known to European travellers who decided to stay at the South Point and not at some of Harrah's or MGM's owned properties. Even to the people without a drivers licence, there is no problem as they offer complimentary shuttle service to the airport. I don't know if they have Strip shuttles in operation. Never mind, anyway. Most people drive by car.
I am looking forward for a few days at that property as well, next spring. The rooms are nice, the rates are fair, there's a poker room, cinema, good food, and the pool is nice, too.
As for the Oasis, I don't think if they're making big money if they will re-open again. The entire city of Mesquite seems to be struggling a bit under the recession. It's quite a bit outide of Vegas and only for truck drivers and people from Utah it might be worth a stay. I they can get the Oasis for really cheap, then it's an ok investment. If not, I think they'll be gambling big.
From Switzerland
We stopped and played at these casinos. They are really nice casinos. Very modern and up to date.
The bottom line is mikegino is a moronic whiner, get a clue and try to stay on task! We all know that everything in this world is Obama and Reid's fault. I'm so tired of people blaming other's for their weakness and failures!
mikegino More stupidity from you. You intentionally forgot to mention how GW and his band of right wing, neo con idiots took eight years of of skillful planning and execution to ruin America's economy. Jobs sent overseas,American interests sold to foreign investors,banks reduced to ruin,unemployment as bad as the depression, all the while sixty days from the end of GW's term he tells America the economy is strong, and after eleven months you are stupid enough to think anyone with a brain is going to blame Obama and Reid for this mess while giving GW and his rats a pass? Take another hit of whatever keeps you impaired and turn on Rush for your daily deeding of stupidity.
larry5 As amatter of fact meant to say what he said now take your juvenile English tutoring class somewhere else no one cares.
Mesquite is a wonderful place to go and get away from the busy city. The atmosphere is lay-back, the people are friendly, and the gourmet room at the Casa Blanca has excellent service and food. I wish Mesquite well in this economic turmoil.
Excuse me Reid defenders, but friggin Harry Reid was right there with George dubya Bush along with Barney Frank, and Chris Dodd destroying our economy, so shut the heck up!!
I hope Mesquite doesn't outgrow its rural feel It's nice to get away form the hustle and bustle of Las Vegas, yet close to National Parks in Utah.
Yes, it's all Bush's fault. That excuses Obama from making the right decisions. That means it's OK for him to take the nation into more and more debt. That means it's OK for Obama to sell us out at every turn and move us ever more toward Socialism.
How sad that the Obama supporters are willing to excuse his inexperience and poor decisions just because it's all Bush's fault.
Those who believe there is a real difference between parties are just unwilling to face facts. They elected George W. Obama and they believe change is just around the corner. Keep dreaming.
larry5 :
I know that somewhere else on these pages I have written that there might be some differences between Reps and Dems, but for the most part, it doesn't matter which party is in office, they both just have different ways to fleece the American taxpayers..
The problem with this rag is the Truth hurts
I hope Mesquite survives; I guess more of us come from California and keep that border busier, and not so much from Utah and north. I think 5 years minimum for LV economy to come back!! If the report on CNN is true, and there are 36,000 empty houses in LV, it will take longer to really get back on rack!