Sale of Binion's recommended

10 January 2008

By Arnold M. Knightly

LAS VEGAS, Nevada -- Binion's sale to Four Queens owner Terry Caudill for $32 million was endorsed by the state Gaming Control Board on Wednesday.

The struggling downtown property, which is owned by MTR Gaming of Chester, W.Va., will continue to be marketed under the Binion's name.

Caudill told regulators he plans to renovate the hotel rooms, refurbish some of the public areas and complete a changeover of the slot machines to ticket-in ticket-out.

He added that he wants to bring in some specialty restaurants and new entertainment options to give the place a little more "pizazz."

He also said he is looking at the possibility of adding hotel rooms to the 366-room hotel.

Caudill said he intends to retain all the current employees but hedged the statement, saying his Four Queens operator will help analyze Binion's operations department by department.