Maloof LVH Acquisition?
Started by Romaman on Monday, 28th January 2013 4:59 pm
Ever since the board post that the Maloofs are buying the LVH, I could'nt find anything in lv sun or anything about it...when will the news become public??
Last response by vespajet 28th January 5:59pm
vespajet responded on Monday, 28th January 2013
The post in question is more or less rumor and speculation. Some have speculated that the Maloofs would use the money from the Kings sale to boost their ownership in the Palms to the 20% max under the agreement with the new owners.
Whatever the Maloofs plan to do in Vegas, we won't know until the Kings sale is finalized and from the way it looks, that may not be anytime soon. The Mayor of Sacramento is working to get some locals businessmen to make an offer and this potentially could spark a bidding war between the parties. In addition, one of the minority owners of the Kings is currently in bankruptcy and the trustee that has been assigned may try to force the Maloofs to allow the minority owners to make a bid as they feel that the minority owners have right of first refusal to buy the team. Of course the trustee wants to get the creditors as much money as possible, so naturally trying to start a bidding war could do so.