Judge clears Downtown Grand sale to Vegas Ventures
By The Weekly Edge desk ·
Summary
A Clark County District Court judge has signed off on selling the Downtown Grand hotel-casino to Vegas Ventures LLC, letting the court-appointed receiver transfer the estate's assets free of liens, with interests attaching to the proceeds. Objections from limited partners tied to the junior secured lender were rejected, as the court found they lacked standing and would not have prevailed anyway. The price was not disclosed, and the buyer plans to take over the existing Fifth Street Gaming lease and bring in a third-party operator for non-gaming businesses.
Why it matters
Court approval of the Downtown Grand sale to Vegas Ventures, free of liens, clears the receivership hurdle while Fifth Street Gaming's lease continues.