Tamares Group Buys out Barrick Gaming’s Downtown Casinos

To take advantage of rising real estate prices, Barrick Gaming Corporation is selling the company’s hotel casinos in downtown Las Vegas. Tamares Group, a privately owned investment company which operated internationally will be buying the following casinos: Las Vegas Club, Gold Spike, Plaza, and Western. The deal is awaiting approval of state gambling regulators.

Tamares will also be purchasing holdings such as the Nevada Club, the Queen of Hearts, and over 40 other properties, in addition to the casinos. The downtown holdings for Barrick’s was recently valued at more than $200 million, giving Tamares about 1/3 of the downtown area’s property and one of the biggest stakes in the downtown area.

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