Hooter's Casino Goes Bust

It's hard to lose money running a casino, but Hooter's did it:

On August 1, 2011, the Hooters Casino Hotel in Las Vegas filed for bankruptcy protection, in order to restructure its outstanding debts. 155 East Tropicana, LLC elected to file for bankruptcy amid ongoing debt problems.

The Chapter 11 filing comes after months of speculation of the casino's fate amid a still-depressed Las Vegas real estate market. The casino is held independently of the Hooters chain of restaurants, which are owned by hooters of America, LLC. The casino is currently facing total liabilities of approximately $100-500 million, with total assets in the neighborhood of $10-50 million.

That's a lot of buffalo wings.

I can't say as I'm terribly surprised. We stopped in there one time just to check it out and it certainly didn't have the type of operation I'm used to seeing on The Strip. It's very hard to get to on foot, and that cost them a lot of business. Plus, with a bunch of gleaming new properties opening nearby on The Strip, Hooter's looked pretty small and old by comparison (it used to be the San Remo some years ago).  It never really fit in.