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Vegas Ventures agrees to buy Downtown Grand from receivership

Deals & M&A

Vegas Ventures LLC agreed on 13 August to buy the Downtown Grand hotel-casino in Las Vegas, reportedly under an asset purchase agreement. The sale requires court approval and Nevada gaming regulatory approval; the receiver has asked Clark County District Court to approve it, with a hearing proposed for 22 September. The transaction is expected to close by 30 September.

The proposed sale could change ownership of the Downtown Grand and affect its existing operating arrangements.

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Deals & M&A

France's competition authority approves Banijay's Joa acquisition without conditions

France's competition authority has approved Banijay's planned acquisition of casino operator Joa without conditions. The review, the authority's first of a gambling transaction spanning online and land-based operations, focused mainly on poker and concluded that the deal was unlikely to restrict competition. The authority said its assessment did not account for possible future legalisation of online casino games.

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