Online Casino Buys Las Vegas Condos

Published May 28, 2006 by OCR Editor

Online Casino Buys Las Vegas Condos

Two hundred-plus Las Vegas condo residents may not know it, but an online casino gambling firm is about to become their newest neighbour.

Monkey Bet, an online sports book, casino and poker room, has recently completed negotiations to purchase land in the area and has set a tentative 2008 opening for a live gambling establishment on the site. The sale has proved controversial given the 269 condo units, known as Chalet Vegas, already occupy the adjacent space where the online gambling firm intends to build.

Existence of a purchase agreement with Monkey Bet was hardly welcomed by Chalet Vegas management. According to Chalet Vegas staff, the gambling firm will have to negotiate purchase agreements with each individual condo owner if it wants to lawfully obtain the land. Staff were especially concerned to learn that Monkey Bet had previously stated its intension to build Nevada's largest gambling hall on the property. Nevada Gaming Control Board member Mark Clayton has hastened to offer reassurance to residents, saying that the Board is unaware of any of Monkey Bets plans. He also indicated that the issue of gambling firms affiliating with Nevada firms would be an unsuitable association."

The online gambling firm refers to itself as a consortium of real estate and gambling operators registered in the Bahamas and the UK. It is the owner of two casinos in Blackpool and apartment buildings in New York City. The company has not done business in Las Vegas before.

See also

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