Hooters Hotel and Casino Lives Another Day
The Hooters Hotel & Casino has been on deathwatch for quite sometime but it looks like it will live (just barely) for another day.
The owner of the Hooters hotel, 155 E. Tropicana, was in talks to sell the property to Hedwigs Las Vegas Top Tier. However, Hedwigs failed to make a payment by June 6 which automatically terminated the deal. Yet Hooters did get about $5.5 million from Hedwigs in a non-refundable deposit and extension fees.
Of course, Hooters is not out of the woods now. East Tropicana has serious cash flow issues and has not been able to meet its debt obligations. So Hooters is on the lookout once again for some sugar daddies who want to either keep the Hooters brand in place or redevelop it completely. Hooters is easy! Whatever you want to do with them, they are ok with it.
We say, somebody should call Jimmy Buffett.
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