Newport Global Advisors Completes Sale of Mesquite Gaming in Nevada

Newport Global Advisors Finalizes Strategic Sale of Mesquite Gaming

Newport Global Advisors has officially announced the completion of Mesquite Gaming‘s sale, a significant transaction in Nevada’s dynamic casino industry. Although financial details and the buyer’s identity remain undisclosed, indications suggest Mesquite OCM Voteco LLC, an affiliate of Oaktree Capital Management, as the likely purchaser.

A New Era for Mesquite Gaming

Mesquite Gaming, with its notable properties – the Casablanca Hotel & Casino and the Virgin River Hotel & Casino – has been a prominent player in Nevada’s gaming sector. Newport’s involvement began in 2008 with an investment in Black Gaming’s debt securities, leading to a transformative partnership with Michael Gaughan and Anthony Toti in 2011, restructuring Black Gaming into the now-renowned Mesquite Gaming.

Leadership and Vision: Driving Success

The success story of Mesquite Gaming under Newport’s stewardship is a testament to strategic leadership and vision. The board of directors, comprising Brendan Gaughan, Kathleen Gaughan Banuelos, Anthony Toti, Timothy Janszen, and Ryan Langdon, played an instrumental role in steering the company to new heights.

Timothy Janszen, CEO at Newport, expressed gratitude towards their partners, noting, “This exit represents a terrific accomplishment for the entire team, driven by deep industry expertise.”

Ryan Langdon, Newport’s Senior Managing Director, echoed these sentiments, highlighting the favorable outcome for investors.

Anthony Toti, the former Chairman and CEO of Mesquite Gaming, reflected on the team’s achievements, saying, “We are thrilled to have delivered such a terrific result, backed by the support of Michael Gaughan and Newport.”

Nevada’s Gaming Industry: A Thriving Landscape

The sale comes at a time when Nevada’s gaming industry is witnessing robust growth. Recent reports from the Nevada Gaming Control Board (NGCB) indicate a significant increase in gaming revenue, with the state’s casinos generating $1.37 billion in November, marking a 12.56 percent rise from the previous year.

Particularly notable is Clark County’s performance, including the Las Vegas Strip and surrounding areas, which registered $1.2 billion in revenue, a substantial 14.43 percent increase. The Carson Valley Area also reported impressive gains, with a 9.21 percent increase in win.

A Bright Future for Mesquite Gaming and Nevada’s Casino Market

The successful completion of Mesquite Gaming’s sale by Newport Global Advisors heralds a new chapter in Nevada’s vibrant casino market. As the industry continues to evolve, the strategic vision and leadership demonstrated in this transaction will undoubtedly influence future growth and innovation in the sector.

Operators and investors alike remain optimistic about the continued expansion and prosperity of Nevada’s gaming industry, buoyed by strong revenue performance and strategic developments like the sale of Mesquite Gaming.