Home > News > Will Penthouse’s Las Vegas Casino Plan Get the Green Light? • Bookmark   • Newsletters   • Register Search Options

NEWS STORY

Will Penthouse’s Las Vegas Casino Plan Get the Green Light?

Will Penthouse’s Las Vegas Casino Plan Get the Green Light?
Get XBIZ News
XBIZ Research
Will virtual reality boost the paysite market?
Yes, it will soon
  39.66%
Yes, but in a few years
  36.87%
No
  23.46%
Out of 179 votes. Results based on votes submitted by members of XBIZ.net social network.
Nov 20, 2008 5:00 PM PST    Text size: 
LAS VEGAS — Penthouse CEO Marc Bell made headlines last weekend after he proclaimed to a Las Vegas Review-Journal reporter that he plans to buy a “significant property” on the Strip and join the casino wars.

“We’re looking to make a presence, take something and clean it up and fix it up and give it a new image,” said Bell, noting that casino dealers could be stocked with models from the magazine.

“We have no intention to rebrand the name of the hotel,” he said. “We would like to see a Penthouse casino presence and a Penthouse pool presence.”

At the time, Bell offered no clue as to how Penthouse would pay for a hotel and casino.

Privately held Penthouse, which still hasn’t announced an initial public offering it hinted about last March, could possibly swing a deal for a Las Vegas property.

The adult entertainment giant significantly expanded its empire when it purchased Various in a cash-and-stock deal for $500 million last December. Various owns and operates AdultFriendFinder.com and dozens of other social-networking sites.

Or the Penthouse chief could possibly tap into funds from another company he has a stake in.

Enterprise Acquisition Corp., which went public last year and trades on the American Stock Exchange, also is helmed by Bell, who acts as chairman of the board and treasurer. Its CEO and president is Daniel Staton, who purchased Penthouse Media Group properties with Bell for $52 million four years ago.

Enterprise Acquisition is a “blank check” entity formed for the purpose of acquiring companies. The company, which has $251 million in stockholder equity, shares its address with Penthouse corporate offices in Boca Ratan, Fla.

Its first deal, announced in late September, was a $669 million merger with Workflow Management Inc., a print and promotional products company based in Dayton, Ohio. That deal is expected to close in March.

Bell did not respond to numerous calls this week by XBIZ for response on whether he seriously will attempt to crack the Las Vegas market, which is slowly adding adult entertainment brands to its marquees.

Playboy has an exclusive club and gambling salon at Palms. Hustler, which is building a topless bar near the Strip, has been actively shopping for a Vegas casino since April, according to reports. And Penthouse already has its name licensed on a topless bar near the Strip.

In his interview with the Review-Journal, Bell said any initiative of operating a resort in Nevada with an unrestricted gaming license would be based on innovation and originality.

“It’s about rethinking the way of how people think of casinos in Las Vegas, coming in with a new paradigm. Everyone tries doing cookie cutters, doing the same thing over and over again, and we believe it’s time to create a new widget,” he said.

“I would have to imagine at some point we would be able to, as entertainment gets more risque on the Strip, as Vegas gets more back to its roots.”

More ways to get XBIZ News:  RSS Feeds  |  E-Newsletters  |  Desktop Widget  |  Mobile
Looking for porn star news and behind-the-scene videos? Check out XFANZ.com !

EDUCATIONAL FEATURES

Fraudulent Brazilian Trademark Registrations Running Rampant

Although you might not think often about protecting your trademark rights in Brazil, you need to — even if you don’t yet have a single Brazilian customer. Scammers are constantly looking for... More »

E-Stim Basics: Selling Customers on Powerboxes as Pleasure Tools

Electrosex is a commonly misunderstood pleasure practice for good reason: Most of us have negative associations with electricity; maybe we’ve been shocked after rubbing our feet across a carpeted... More »

Search Oftentimes Is Left to Chance

Adult content is frowned upon in search, whether in paid, organic or social. With the big algo updates from the past few years, Google has cleaned up search, trying to get rid of spammy and low-quality... More »
XBIZ NEWSLETTERS
Stay informed of the latest industry developments. Get XBIZ newsletters delivered to your inbox. Subscribe today!
Enter email address:

* To manage existing subscriptions click here.






POPULAR PRODUCTS & SERVICES
Submit your press release to
multiple news outlets with 1 click.
Subscribe to RSS news feeds or
add free content to your website.
Access XBIZ news and articles
with your mobile device.
Access the latest issues of the industry's leading trade publications in digital form. View online or download for offline viewing.

UPCOMING EVENTS

The European Summit

Mar 04 - Mar 07
Barcelona-Sitges, Spain

The TEA Show

Mar 05 - Mar 06
Hollywood, CA

Phoenix Forum 2017

Mar 23 - Mar 26
Tempe, Arizona

EXXXOTICA Denver

Mar 31 - Apr 02
Denver, CO.
Everyday thousands of business professionals browse XBIZ's industry directory for quality products and services. Not listed yet? Your company could be losing potential new business. Submit your company today!
Use XBIZ RSS feeds to stay informed of the latest industry developments or as a content syndication tool for your website!