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October 20, 2014

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Hooters license recommended for approval

Image

Steve Marcus

An exterior view of the Hooters hotel-casino on Tropicana Avenue, east of Las Vegas Boulevard South Saturday, Dec. 29, 2012.

Things are looking up for Hooters Casino Hotel which filed for Chapter 11 bankruptcy in August 2011 in Las Vegas.

The Nevada Gaming Control Board recommended approval Wednesday for the final license for Larry Jean Woolf of Navegante Gaming, which manages the property.

Board Chairman A.G. Burnet said after the meeting that an expedited investigation by the state was initially done to keep the property open.

The board’s action solidifies the license. Woolf told the board the business has been stabilized and the recent results have been improving at the 696-room hotel.

The license must be approved by the state Gaming Commission that meets June 20 in Las Vegas.

The board also approved the restructuring of the companies that run the Golden Nugget in Las Vegas and the Golden Nugget in Laughlin. The reshuffling permitted the Fertitta Entertainment, to raise $250 million to refinance the Golden Nugget debt in Las Vegas when it comes due.

A spokesman for the company said business is getting better at both casinos.

Burnet told attorneys for Fertitta they didn’t have the required approval from gaming regulators before getting the $250 million. The attorneys admitted they made a mistake and it came about because of a “misunderstanding” between lawyers handling the refinancing.

But the board recommended approval.

The board recommended waivers be granted to three companies which could not get their internet gambling started within the six months time limit on the original license.

They were Caesars Interactive Entertainment, Sartini Synergy Online LLC and Spielo International USA.

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