Newport Global Advisors has officially completed its sale of Mesquite Gaming, LLC. The company concluded the transaction on November 30 2023.
Newport, however, did not provide any details regarding the financial terms of the sale.
The company’s initial investment in Black Gaming’s debt securities began in August 2008. Three years later, Newport partnered with Michael Gaughan and Anthony Toti to reorganize and restructure Black Gaming into Mesquite Gaming.
The rebranded company went on to form a Board of Directors that was made up of several key members, including Kathleen Gaughan Banuelos, Anthony Toti, Timothy Janszen and Ryan Langdon.
Mesquite Gaming is currently based in Mesquite, Nevada. The company owns and operates the Casablanca Hotel & Casino and Virgin River Hotel & Casino.
Newport CEO Timothy Janszen took a moment to thank those involved in the partnership and the company’s restructuring.
He commented, "We want to thank Michael and Anthony for their partnership over the last 12 years.
“This exit represents a terrific accomplishment for the entire team, and it could not have been achieved without their deep and unmatched industry expertise."
Newport Senior Managing Director Ryan Langdon echoed the company’s appreciation by saying, "We could not be happier about the outcome and are delighted to be able to provide a great return to our investors.”
Former Chairman and CEO Toti expressed his excitement for the team’s accomplishment.
He said, "I am proud of our team's achievements and the support of Michael Gaughan and Newport. We are thrilled to have delivered such a terrific result."
