Binion's sold to owner of Four Queens
After much speculation, Binion's has been sold again.
The legendary casino famous for originating the World Series of Poker was first purchased by Harrah's in 2004 before being sold to MTR Gaming for $20 million.
MTR recently dumped their Speedway Casino for $18.2 million, and now they've done the same with Binion's for $32 million.
The casino was hemorrhaging money, reportedly breaking even last year and down $1.3 million so far this year. Still, MTR made a tidy 50 percent profit off their sale.
The lucky (or unlucky -- downtown casinos haven't been doing very well) new owner is TLC Casino Enterprises, owner of Four Queens a few steps away.
Shareholders were ambivalent with the decision, as MTR Gaming stock rose 0.47 percent for the day to close at $14.86.
