Gold Spike For Sale

On May 3, 2:41 pm, CLM in ND <camarv....TakeThisOut@hotmail.com> wrote:
> Does this mean the Ogden Inn will finally get built?

Nothing's gonna get built. They aren't going to sell the Spike for
that price. There is no other casino operator, save maybe Bob Stupak,
who would want a delapidated 100-room property a block off Fremont.

My guess it won't sell and will be shuttered within a year. If it
does sell, it won't be for another hotel or casino in a zone with more
rooms and casino floor space than there is demand for.

I read that Barrick paid $83 mill for all of Jackie's properties, they
have run them into the ground and now think the Gold Spike is worth
20% of what they paid for all of them back when it was viable? It
comprises less than 10% of the floor space and rooms that they bought
and with the second worst location and second worst infrastructure.

I was thinking about how indifferent I am to what hgappens to the Gold
Spike. I guess that's because Barrick's/Tamares' mismanagement has
numbed me to how much fun I used to have there. I won't be sad to see
the Spike go, but I am sad to see the Spik eI used to know already
gone.

Matt
 >> Stay informed about: Gold Spike For Sale 

On May 3, 4:41 pm, m....TakeThisOut@bigempire.com wrote:
> On May 3, 2:41 pm, CLM in ND <camarv....TakeThisOut@hotmail.com> wrote:
>
> > Does this mean the Ogden Inn will finally get built?
>
> Nothing's gonna get built. They aren't going to sell the Spike for
> that price. There is no other casino operator, save maybe Bob Stupak,
> who would want a delapidated 100-room property a block off Fremont.
>
> My guess it won't sell and will be shuttered within a year. If it
> does sell, it won't be for another hotel or casino in a zone with more
> rooms and casino floor space than there is demand for.
>
> I read that Barrick paid $83 mill for all of Jackie's properties, they
> have run them into the ground and now think the Gold Spike is worth
> 20% of what they paid for all of them back when it was viable? It
> comprises less than 10% of the floor space and rooms that they bought
> and with the second worst location and second worst infrastructure.
>
> I was thinking about how indifferent I am to what hgappens to the Gold
> Spike. I guess that's because Barrick's/Tamares' mismanagement has
> numbed me to how much fun I used to have there. I won't be sad to see
> the Spike go, but I am sad to see the Spik eI used to know already
> gone.
>
> Matt

It's sad to see what has happened to the Gold Spike. At one time,
when the great Jackie Gaughan owned it, it made more money per square
foot that any other casino in Las Vegas. For many years, too, and at
that location. Not exactly the Four Corners. He once said that penny
machines were a great draw to get people in the door. Gaughan said
those machines made a lot of money from people who just came in to get
rid of their pennies. Then, after their pennies were gone, they might
play some VP or step up to a table for a few hands. It's all about
getting them in the door.

What Tamares/Barrick has done with those properties just reaffirms my
opinion that Jackie Gaughan is the best casino operator around. He
had some of the lowest-end, grind joint casinos in town & they made
money. If Tamares & Barrick just would have followed his example,
they could have kept them profitable. They still could if they had
any brains. Maybe they're too far gone now. How can you mismanage a
casino, especially one with virtually no overhead and was profitable
before you bought it? It still seems to me that the best casinos are
run by people that have actually gambled & know what gamblers like.

It's too bad.

Cameron
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On May 3, 4:34 pm, m... DeleteThis @bigempire.com wrote:
> Just got a call from the Review Journal. They are doing a story about
> the Gold Spike because it's up for sale.

I think it's cool that the Review Journal calls you when a downtown
casino is for sale. I wish I was famous.
 >> Stay informed about: Gold Spike For Sale 

<matt DeleteThis @bigempire.com> wrote in message
news:1178224449.266041.263100@o5g2000hsb.googlegroups.com...
> Just got a call from the Review Journal. They are doing a story about
> the Gold Spike because it's up for sale.
>
> $15 million.
>
> Or, about $10 million more than it's worth. And that's assuming you
> get the parking lots and the other dingy motel next to it. I can't
> see any value in the structure at all, only in the property, and the
> property value is speculative because a block off Fremont and next to
> a vacant casino ain't worth much right now.
>
> In related news, Neonopolis is now going to be called Fremont Square.
> Yeah, that name change should turn it right around.
>
> Matt
I suppose if you wanted to buy the gold spike matt, you could mortgage the
cheapovegas website. That would get you a cup of coffee to drink, while you
figure out where to get the 15M.
BAWAHAHAHAHAHAHA

Got to have a good laugh once in awhile.

FARMER JOHN...the boys on the farm say hello......
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"farmer john" <john5240.TakeThisOut@verizon.net> wrote in message
news:Nss_h.6632$r77.4033@trndny08...
> <matt.TakeThisOut@bigempire.com> wrote in message
> news:1178224449.266041.263100@o5g2000hsb.googlegroups.com...
>> Just got a call from the Review Journal. They are doing a story about
>> the Gold Spike because it's up for sale.
>>
>> $15 million.
>>
>> Or, about $10 million more than it's worth. And that's assuming you
>> get the parking lots and the other dingy motel next to it. I can't
>> see any value in the structure at all, only in the property, and the
>> property value is speculative because a block off Fremont and next to
>> a vacant casino ain't worth much right now.
>>
>> In related news, Neonopolis is now going to be called Fremont Square.
>> Yeah, that name change should turn it right around.
>>
>> Matt
> I suppose if you wanted to buy the gold spike matt, you could mortgage the
> cheapovegas website. That would get you a cup of coffee to drink, while
> you
> figure out where to get the 15M.
> BAWAHAHAHAHAHAHA
>
> Got to have a good laugh once in awhile.
>
> FARMER JOHN...the boys on the farm say hello......
>
No matter what name you go by, you are so foolish. I try my hardest to avoid
saying it, but gee, this is one of the stupidist, unfunny things I've ever
read.

I say we start one of the syndicates to offer them what the Spike is worth.
We've got a good start with the change on Cameron's dresser and that in my
change jar. Maybe Elmer with chip in with the money in his fanny pack.
 >> Stay informed about: Gold Spike For Sale 

A sad, sad old man.



> I suppose if you wanted to buy the gold spike matt, you could mortgage the
> cheapovegas website. That would get you a cup of coffee to drink, while
> you
> figure out where to get the 15M.
> BAWAHAHAHAHAHAHA
>
> Got to have a good laugh once in awhile.
>
> FARMER JOHN...the boys on the farm say hello......
>
>
 >> Stay informed about: Gold Spike For Sale 

matt RemoveThis @bigempire.com wrote:
> On May 3, 2:41 pm, CLM in ND <camarv... RemoveThis @hotmail.com> wrote:
>
>>Does this mean the Ogden Inn will finally get built?
>
>
> Nothing's gonna get built. They aren't going to sell the Spike for
> that price. There is no other casino operator, save maybe Bob Stupak,
> who would want a delapidated 100-room property a block off Fremont.
>
> My guess it won't sell and will be shuttered within a year. If it
> does sell, it won't be for another hotel or casino in a zone with more
> rooms and casino floor space than there is demand for.
>
> I read that Barrick paid $83 mill for all of Jackie's properties, they
> have run them into the ground and now think the Gold Spike is worth
> 20% of what they paid for all of them back when it was viable? It
> comprises less than 10% of the floor space and rooms that they bought
> and with the second worst location and second worst infrastructure.
>
> I was thinking about how indifferent I am to what hgappens to the Gold
> Spike. I guess that's because Barrick's/Tamares' mismanagement has
> numbed me to how much fun I used to have there. I won't be sad to see
> the Spike go, but I am sad to see the Spik eI used to know already
> gone.
>
> Matt
>

Considering Binion's sold for just $20 million a few years ago, I can't
imagine the Spike getting anywhere close to 15. I think you are right
about it being worth closer to 5.

-Burt

--
"People go to a bar or a casino to get drunk, group banged, by six
guys/girls and an Arab with a cat....all at the same time."

-Don Strevel
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On May 3, 7:35 pm, Dynaboy <dynabo....TakeThisOut@gmail.com> wrote:
> I think it's cool that the Review Journal calls you when a downtown
> casino is for sale. I wish I was famous.

Me too. It's funny to me that anyone would think I'm an authority
because I am self-manufactured. I just put up a web site and all the
sudden people think I know what I'm talking about. I suppose it's one
of the great things about the Internet, it democratizes information.
In some cases, though, I also get to speak because reporters can be
too lazy to find better sources. I'm easy to get ahold of, so they
do.

Matt
 >> Stay informed about: Gold Spike For Sale 

BR Eagle wrote:
> I say we start one of the syndicates to offer them what the Spike is worth.
> We've got a good start with the change on Cameron's dresser and that in my
> change jar. Maybe Elmer with chip in with the money in his fanny pack.

I found 35¢ in my sofa, deal me in.

A*
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m....DeleteThis@bigempire.com wrote:
> On May 3, 7:35 pm, Dynaboy <dynabo....DeleteThis@gmail.com> wrote:
>
> > I think it's cool that the Review Journal calls you when a downtown
> > casino is for sale. I wish I was famous.
>
> Me too. It's funny to me that anyone would think I'm an authority
> because I am self-manufactured. I just put up a web site and all the
> sudden people think I know what I'm talking about. I suppose it's one
> of the great things about the Internet, it democratizes information.
> In some cases, though, I also get to speak because reporters can be
> too lazy to find better sources. I'm easy to get ahold of, so they
> do.

I disagree. I think you've attained a celebrity status worthy of being
stalked by a psychopath. I'll begin scouting immediately.

A*
 >> Stay informed about: Gold Spike For Sale 

On May 3, 2:34 pm, m... DeleteThis @bigempire.com wrote:
> In related news, Neonopolis is now going to be called Fremont Square.
> Yeah, that name change should turn it right around.

They should go with a ghost town theme.
 >> Stay informed about: Gold Spike For Sale 

matt RemoveThis @bigempire.com wrote:
> Just got a call from the Review Journal. They are doing a story about
> the Gold Spike because it's up for sale.

http://tinyurl.com/2m5z2b

and a bonus story, even though you're not mentioned.

http://tinyurl.com/2n9xm4

--tr
 >> Stay informed about: Gold Spike For Sale 

On May 3, 3:41 pm, m....RemoveThis@bigempire.com wrote:
> I was thinking about how indifferent I am to what hgappens to the Gold
> Spike. I guess that's because Barrick's/Tamares' mismanagement has
> numbed me to how much fun I used to have there. I won't be sad to see
> the Spike go, but I am sad to see the Spik eI used to know already
> gone.
>

Don't let it be forgot
That once there was a spot
For one brief shining moment that was known
As the Gold Spike.
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