This property was just purchased by Oyo Hotels & Homes in partnership with Highgate, a hospitality company that will oversee management when it’s reborn under a new name, the Oyo Hotel & Casino Las Vegas. Paragon Gaming will continue to oversee the small, 35,000-square-foot casino. The deal fell through and the casino will continue to operate as Hooters for the foreseeable future. Below is an article from The St. Petersburg Times, dated June 11: 'An investment group with a deal to buy the Hooters Casino Hotel in Las Vegas has crapped out, unable to raise the money to close the sale after trying for a year. NTH Advisors of Santa Monica, Calif., which paid a nonrefundable. OYO has signed a deal to buy the Hooters Casino Hotel in the Nevada gambling and entertainment hub, it announced Friday. The 657-room property will be rebranded the OYO Hotel & Casino Las Vegas. LAS VEGAS The Hooters hotel-casino off the Las Vegas Strip has been sold to an Indian hotel company and will be rebranded as the OYO Hotel and Casino. The Las Vegas Review-Journal reports the. Hooters Casino Sold. Hooters Casino in Las Vegas was sold for $53.8 million, as first reported by the Las Vegas Sun. Trinity Hotel Investments of New York is the buyer. The Las Vegas Sun speculates that the Hooters branding will be removed from the property and replaced by something under the Trinity umbrella, which includes Holiday Inn.

LAS VEGAS (AP) — A real estate broker representing the owners of the Hooters Casino Hotel said the property near the Las Vegas Strip has sold for about $70 million to a New York-based hotel investment company.

Michael Parks with CBRE Group in Las Vegas confirmed Monday the 696-room casino-hotel off Tropicana Avenue was sold May 1 to Trinity Hotel Investors LLC. The sale follows Penn National Gaming’s deal to buy the nearly 1,500-room Tropicana Las Vegas next door for $360 million.

Parks said he represented the seller, Canyon Capital Advisors.

The deed recorded with the Clark County assessor’s office says the purchase price for the hotel was $53.8 million. But Parks said that figure didn’t include personal property, bringing the total paid closer to $70 million.

It isn’t clear what Trinity Hotel Investors plans to do with the property. Calls and emails Monday to the firm’s chief investment officer were not returned.

The Hooters restaurant inside “will certainly be part of whatever they do,” said Mark Whittle, senior vice president of global development for Hooters of America, which grants franchise agreements and licensing arrangements for restaurants in the United States.

Canyon Capital Advisors has owned the casino-hotel since 2012, when it offered $60 million to take over the bankrupt business at the time.

The property that opened as the Hotel San Remo in 1973 became an homage to the famed restaurant chain’s chicken wings and its waitresses in 2006 when four original founders of Hooters bought and renovated it.

Yet another Las Vegas hotel-casino is changing hands.

Riviera was recently sold to the Las Vegas Convention and Visitors Authority, and closed May 4, 2015. Tropicana is going to Penn National Gaming by the end of 2015.

Now, the entirely unremarkable Hooters Casino Hotel has been purchased by a company called Trinity Hotel Investors for $53.8 million.

The sale happened under the radar on May 1, 2015, a mere day after employees were informed of the purchase. Way to keep it classy, owner persons.

Hooters Casino Hotel has 696 rooms, exactly none of which you’d stay in unless you lost a bet.

We first saw word of the sale on the excellent Stiffs and Georges blog, and it was later confirmed by the Las Vegas Sun.

Compared to other recent sales, Hooters was had for a song. Riviera sold for $182.5 million. The Trop cost $360 million. Hooters was so inexpensive at $53.8 million, it’s believed Vegas mogul Steve Wynn has roughly that amount of cash in his pocket right this very minute.

The new owners of Hooters are expected to rebrand it. Rumors are Holiday Inn will take over operation of the resort, but not under that name.

Hooters Casino Hotel, previously the San Remo, has been a financial cluster for some time now. In fact, several times, it’s nearly gone bust. Because you know damn well we weren’t going to do an entire story about Hooters without a “bust” joke.

New ownership is a glimmer of hope for the only casino in Las Vegas known to have given this blog alcohol poisoning with its policy of swapping out a call liquor for some blasphemous, generic crap without informing us it was doing so. Asshats.

While for years we’ve been hoping Hooters would burn to the ground after a lightning strike, we’re cautiously optimistic a new owner could make something of the joint.

Hooters Casino Sold 2019

Hooters opened as a Howard Johnson Hotel. Then is was the Paradise, the Polynesian Paradise and Treasure Hotel before becoming Hotel San Remo and eventually Hooters. Sign-makers love the place.

Hooters Casino Closing

The stated “singular purpose” of Trinity Hotel Investors is “investing in and enhancing the value of hotel real estate.” They also tout their acumen at “identifying investment opportunities with strong risk-return profiles.”

Hooters Casino Sold

So, yeah, we’re not holding our breath about the whole “making something of the joint.”