Primm Valley Resorts
| Formerly | Primadonna Resorts, Inc. |
|---|---|
| Industry | Gaming,hospitality |
| Founded | 1990 |
| Founder | Gary Primm |
| Headquarters | Primm, Nevada,U.S. |
| Owner | Affinity Gaming |
| Website | Official website |
Primm Valley Casino Resorts(formerly known asPrimadonna Casino Resorts) is a group of three hotel-casinos inPrimm, Nevada,alongInterstate 15at theCaliforniastate line. They are owned and operated byAffinity Gaming.It is named after the Primm family, benefactors of the hotel and casino properties by Ernest andGary Primm.
The hotels are a popular stop on the drive betweenLas Vegasand California.
The various hotels are connected across I-15 by both amonorailand a defunct amusementtrainline that was connected withBuffalo Bill'sandWhiskey Pete's.
History
[edit]
The hotels were built byGary Primmand the Primm family at State Line, Nevada, the informal name for the area. The family's history in the area is the reason why it received the official name of Primm.
Whiskey Pete'swas the first of their hotels. The Primadonna Resort was the second hotel built, and it was later renamed as thePrimm Valley Resort.These two hotels were connected by a single-car monorail that rain across the I-15.
Buffalo Bill'swas the third hotel built. Buffalo Bill's and Primm Valley Resort were connected by a monorail.
The company acquired an option to buy an 18-acre site on theLas Vegas Strip.[1] Gary Primmof Primadonna Resorts approachedMGM Grand Inc.president Bob Maxey in 1994 with an idea for the site: a casino recreating the New York skyline.[2]A joint venture was formed between the two companies, and construction began in March 1995.[3]Completed at a cost of $460 million, theNew York-New York Hotel and Casinoopened in January 1997.[4]
TheLas Vegas Outlet Mallwas added as a part of the Primadonna Resort in 1998.[5]
On March 1, 1999,MGM Grand Inc.acquired Primadonna Resorts in an all-stock transaction that had been announced on November 9, 1998.[6]
Since the initiation of New York-New York, analysts had speculated that MGM Grand or Primadonna would buy out the other's interest in the project.[7]Instead of making such a cash-intensive purchase,[8]however, MGM agreed to buy Primadonna outright for $276 million in stock plus $336 million in assumed debt.[9]The merger closed in March 1999,[10]giving MGM ownership of three casinos and two golf courses at the Nevada–California state line, in addition to full control of New York-New York.
On October 31, 2006, MGM announced plans to sell Primm Valley Resorts toHerbst Gamingfor $400 million. The proposed sale would not include thePrimm Valley Golf Club.[11]The sale closed on April 10, 2007.
Operations
[edit]- Buffalo Bill's
- Fashion Outlets of Las Vegas
- Primm Valley Resort & Casino
- Star of the Desert Arena
- Whiskey Pete's
- Severalgas stationsandconvenience storesthat surround the casinos and thelotteryand convenience store located on a portion of the property in California.
Former
[edit]References
[edit]- ^Burbank, Jeff (November 14, 1992)."Kerkorian to buy corner of Tropicana, Strip".Las Vegas Review-Journal.– via Factiva(subscription required)
- ^Palermo, Dave (August 5, 1994)."New resort to join Strip lineup".Las Vegas Review-Journal.– via Factiva(subscription required)
- ^Green, Marian (March 31, 1995)."Las Vegas gets taste of Big Apple".Las Vegas Review-Journal.– via Factiva(subscription required)
- ^Berns, Dave (January 4, 1997)."Visitors rush to see little Big Apple".Las Vegas Review-Journal.– via Factiva(subscription required)
- ^Spillman, Benjamin (April 4, 2007). "Primm mall set to add space".Las Vegas Review-Journal.p. 1D.
- ^"MGM Grand, Inc. And Primadonna Resorts, Inc. Announce Merger".Breaking Travel News. November 9, 1998.RetrievedApril 11,2007.
- ^Smith, Hubble (November 10, 1998)."MGM makes $600 million offer to buy Primadonna".Las Vegas Review-Journal.– via Factiva(subscription required)
- ^Berns, Dave (October 15, 1998)."Primadonna declines MGM buyout".Las Vegas Review-Journal.
- ^"MGM Grand agrees to buy Primadonna in $276.1 million deal".Wall Street Journal.November 10, 1998.
- ^"MGM Grand/Primadonna Resorts Buy -2: In Stock Swap".Dow Jones News Service.March 1, 1999.– via Factiva(subscription required)
- ^Stutz, Howard (November 1, 2006)."Herbst Gaming to buy Primm properties".Las Vegas Review-Journal.Archived fromthe originalon March 9, 2007.RetrievedMarch 13,2007.