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Hooters Casino Hotel in Vegas Could be in Trouble

Posted on August 17, 2009 by Jack Potts There have been 1 comment(s)

Las Vegas Hooters Casino

It’s not all about the tacky outfits, big boobs, and hot wings these days at the Las Vegas Hooters Hotel and Casino. In the hard times of running a casino in Las Vegas during this recession, the company that owns the Hooters Casino Hotel said it had a significant loss in the second quarter. With reality setting in, the company hinted it may seek bankruptcy protection if it can't restructure operations, refinance its debt or gain forbearance deals from lenders.

On February 2, 2006, Hooters Casino Hotel officially opened its doors with a large orange carpet welcoming the public to a mix of eccentric entertainment and gambling. Last year was the first signs of financial trouble when a major purchasing deal fell through from investment group Hedwigs Las Vegas Top Tier. The deal consisted of purchasing Hooters Hotel Casino for $225 million another perk to the deal was to bring $130 million to redevelop the property in a competitive Las Vegas atmosphere. Present day, Hooters lost $5.05 million in the quarter vs. a profit of $2.44 million in 2008's second quarter.

Is the Hooters Casino Hotel on a path to closure? It’s really too early to tell, but the signs are pointing for this group to stick to what they do best, frying up hot wings and serving up cold beer with a “perky” smile.

This post was posted in Vegas News

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