Primm Valley Resorts

Last updated
Primm Valley Casino Resorts
FormerlyPrimadonna Resorts, Inc.
Industry Gaming, hospitality
Founded1990;33 years ago (1990)
Founder Gary Primm
Headquarters Primm, Nevada, U.S.
Owner Affinity Gaming
Website Official website

Primm Valley Casino Resorts (formerly known as Primadonna Casino Resorts) is a group of three hotel-casinos in Primm, Nevada, along Interstate 15 at the California state line. They are owned and operated by Affinity Gaming. It is named after the Primm family, benefactors of the hotel and casino properties by Ernest and Gary Primm.

Contents

The hotels are a popular stop on the drive between Las Vegas and California.

The various hotels are connected across I-15 by both a monorail and a defunct amusement train line that was connected with Buffalo Bill's and Whiskey Pete's.

History

Primadonna Casino Resorts logo (1990-1999) Primadonna Resorts logo.jpg
Primadonna Casino Resorts logo (1990–1999)

The hotels were built by Gary Primm and 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's was the first of their hotels. The Primadonna Resort was the second hotel built, and it was later renamed as the Primm Valley Resort. These two hotels were connected by a single-car monorail that rain across the I-15.

Buffalo Bill's was 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 the Las Vegas Strip. [1] Gary Primm of Primadonna Resorts approached MGM 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, the New York-New York Hotel and Casino opened in January 1997. [4]

Terrible's Primm Valley Casino Resorts logo (2007-2011) Primm Valley logo.png
Terrible's Primm Valley Casino Resorts logo (2007–2011)

The Las Vegas Outlet Mall was 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 to Herbst Gaming for $400 million. The proposed sale would not include the Primm Valley Golf Club. [11] The sale closed on April 10, 2007.

Operations

Former

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References

  1. ↑ Burbank, Jeff (November 14, 1992). "Kerkorian to buy corner of Tropicana, Strip". Las Vegas Review-Journal. – via Factiva (subscription required)
  2. ↑ Palermo, Dave (August 5, 1994). "New resort to join Strip lineup". Las Vegas Review-Journal. – via Factiva (subscription required)
  3. ↑ Green, Marian (March 31, 1995). "Las Vegas gets taste of Big Apple". Las Vegas Review-Journal. – via Factiva (subscription required)
  4. ↑ Berns, Dave (January 4, 1997). "Visitors rush to see little Big Apple". Las Vegas Review-Journal. – via Factiva (subscription required)
  5. ↑ Spillman, Benjamin (April 4, 2007). "Primm mall set to add space". Las Vegas Review-Journal . p. 1D.
  6. ↑ "MGM Grand, Inc. And Primadonna Resorts, Inc. Announce Merger". Breaking Travel News. November 9, 1998. Retrieved April 11, 2007.
  7. ↑ Smith, Hubble (November 10, 1998). "MGM makes $600 million offer to buy Primadonna". Las Vegas Review-Journal. – via Factiva (subscription required)
  8. ↑ Berns, Dave (October 15, 1998). "Primadonna declines MGM buyout". Las Vegas Review-Journal.
  9. ↑ "MGM Grand agrees to buy Primadonna in $276.1 million deal". Wall Street Journal. November 10, 1998.
  10. ↑ "MGM Grand/Primadonna Resorts Buy -2: In Stock Swap". Dow Jones News Service. March 1, 1999. – via Factiva (subscription required)
  11. ↑ Stutz, Howard (November 1, 2006). "Herbst Gaming to buy Primm properties". Las Vegas Review-Journal . Archived from the original on March 9, 2007. Retrieved March 13, 2007.
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