THIS HOOTERS SALES MAY BE THE BEST JESSE JAMES DEAL EVER ...........

Implications: The  prospective new owners of the the Hooter Hotel and Casino in Las Vegas should take a very hard second look at this purchase. Regardless of the investment the present owners may have put into Hooters when they converted it from the San Remo - the loss should at least be shared by the buyers as well as the seller in this deal. The impact of a $235 million dollar purchase, plus the investment needed to get this property into the modern mode will keep anyone in their right mind from buying at the price offered.

Analysis: In short,  the price for the Hooters Las Vegas is just off the charts. I am sure that the present owners want to get out clean, however, there is nothing to base the price on. If you base it on income or profits the seller would have to give the buyer money to take it off their hands. Generally speaking, I am always in favor of a property being upgraded to meet the demand for the product being marketed. In this case, I am not sure where the new owners think their data base will come from. The property as it stands needs some real innovated up grading to have any chance at all. My thoughts are, there is no room density to create the business needed to make this a successful property. It is understanding that the prospective buyer wants to keep his Equity firm a secret - it's probably because they had to take a serious look at the investment and ran for the hills.

Here is the deal - what is the possibility of making this into a profit making entity? Even with the Hooters brand it's a hard road to hoe. The fact of the matter is that the Hooters brand does not do one thing for the serious gambler. It's a small come on for the younger grind set - the player with the cash, why would they want to stay there??? It really hard to fathom. I have personally been to this property on several occasions to evaluate play, food and beverage and entertainment. There is not even a prayer that a serious player would spend any hard dollars there. The competition is much to keen for that to happen. Walk into any other property in the vicinity and you will find out what is lacking in Hooters. It does not take a genius of industry to see the pit falls of this sale.

My personal opinion is -  I hope they are able to prove me wrong, I can't see how, but hope is important................