LVH (Formerly Las Vegas Hilton) Sold

LVH (formerly known as Las Vegas Hilton) was sold today in a foreclosure auction. For the time being, nothing will change.

“The future is bright for the LVH on all fronts,” said Rick Stevens, chief operating officer of the Navegante Group, which said the sale ended uncertainties about the property.

Today’s sale capped a tumultuous 12 months for the Paradise Road property, which went into foreclosure proceedings last fall, early in the year lost its Hilton franchise and then was placed under control of a court-appointed receiver.

People are saying all the right things about LVH and that’s because they’re paid too. The future is the opposite of bright for LVH on all fronts.

Besides the historic SuperBook (and overrated sportsbook) and it’s connection to the Las Vegas Convention Center there is little good at this dirty old non-strip casino.

Expect more news to follow. If you are a fan of LVH I recommend you keep an eye on SuperBook boss Jay Kornegay. If he stays with LVH you should expect that good things are coming. If he leaves, expect bad things to follow.