Herbst approved to buy Primm casinos from MGM Mirage
Its CEO, Ed Herbst, said the company planned to introduce its Terrible’s brand to the properties at Primm while keeping their current identities, Buffalo Bill’s, Primm Valley and Whiskey Pete’s.
Herbst plans to spend up to us$ 45 million on capital expenditures this year, mostly to upgrade slot machines at the Primm properties, introduce signs and upgrade Sands Regent properties it acquired in northern Nevada.
Herbst will spend us$ 400 million to buy the Primm properties, after spending us$ 148 million to acquire the Sands Regent properties, which include the Sands Regency in downtown Reno, Gold Ranch in Verdi, Rail City in Sparks and The Depot in Dayton.
The Primm casinos deal is expected to be completed next month.
The Whiskey Pete’s, Primm Valley and Buffalo Bill’s hotel-casinos have 2,644 guest rooms and 12,634 sqm of casino space. Three gas station-convenience stores and a mini-market are included in the deal. The company also said it was negotiating with MGM on a deal to manage the Tom Fazio-designed Primm Valley Golf Club, and include it in marketing travel packages.
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