# Rumors of Vinion's sale
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The place that made poker famous is rumoured to be a potential sale, but the owners are still not reaching out.

Vinion in downtown Las Vegas has been the subject of buying and selling speculation for months, and recent comments from the chief executive of the West Virginia company that owns the historic casino have added fuel to rumors.

But so far, no one at Edson Arnault and MTR Gaming Group's headquarters, W.Va. Chester, has declined to detail plans for a struggling casino that has raised poker's profile worldwide, raking in millions of dollars.

That prompted 850 employees, investors and downtown enthusiasts to wonder about the future of one of Las Vegas' most successful and infamous casinos at one point.

"I've heard rumors since I've been here. And companies have shown interest in the property," said Bill Robinson, Vinion's chief operating officer since May 2006. "No one in the company has talked to me about this."

Robinson was responding to remarks by Arneault, president and chief executive officer of MTR Gaming and chairman of the board, on a May conference call to discuss the company's revenue.

"We see it as an investment property rather than one of our strategic properties," Arnaud told investors, and MTR Gaming offered to sell Vinion's assets, which had negative cash flow of $3.3 million last year.

MTR Gaming has already agreed to sell Speedway Casino, another Las Vegas property in North Las Vegas, for $18.2 million, with investor conference calls focusing more on racetracks and casino operations in West Virginia, Pennsylvania and Ohio than on issues in Nevada.

"You're not investing in Vinion's MTR," said Justin Sebastian, chief game analyst at Nolenberger Capital Partners, which follows the company.

Sebastiano said the future of MTR Gaming lies in slot machines in Pennsylvania and a possible approval of table games at racetracks and West Virginia.

Sebastiano said MTR Gaming has been a drag on MTR Gaming's stock since it was acquired by Harrer Entertainment in 2004 for about $20 million.

"I don't think it's going to get better anytime soon," Sebastiano said, "and we're estimating negative cash flows for years to come."

Arneault and Steven Overy, vice president of business and legal affairs at MTR Gaming, did not return calls multiple times to comment or elaborate on the remarks.

Robinson said that as far as he is concerned, the company plans to continue investing in Vinion to correct its listing operations.

A recent improvement is a club that operates at night on the 24th floor of the hotel tower in Binion's Ranch Steakhouse, a space previously used for the evening.

The casino renovation includes new carpets and decorations, and 200 new slot machines. And in an attempt to "see what price resistance is," Robinson said plans are being made to upgrade at least one floor of a hotel room and attract higher-spending customers.

Vinion is not the only casino operating in downtown Las Vegas in the uncertain atmosphere.

Tamares Group recently put Gold Spike on its list for sale at a price of $15 million (W150 billion). The smoky, downmarket property reportedly attracted the attention of many potential buyers, including the operator of Sapphire Gentle's Club near the strip.

Tamares also recently broke up with Navegante Group, a company that has operated Gold Spike, Plaza, Las Vegas Club and Western Hotels. Company officials have indicated through representatives that they are willing to make a difference, but have so far declined requests to elaborate on their plans.

The owners of the Golden Nuggets and El Cortez are investing about $100 million and $20 million in their properties, respectively.

Gaming revenue continues to decline at downtown casinos. Gaming sales in March were $55.3 million, down 7% from $59.5 million a year ago. The market has lost 10 straight months. [바카라사이트 추천](https://outlookindia.com/outlook-spotlight/2023년-한국을-대표하는-카지노-사이트-best-10--news-326663)

"It's not a Vegas strip," said Sebastiano in Vinion and downtown. "I don't think it's such a great asset."