Announced
Synopsis
Oaktree Capital Management, an American global asset management firm, agreed to acquire The Casablanca Resort and Virgin River Hotel & Casino from Mesquite Gaming, a casino operator. Financial terms were not disclosed. “This investment fits in our Special Situations Fund III, a 2022 vintage fund closing at the end of this month, and we will raise about $3bn in that strategy. Private equity in most asset classes is a difficult fundraising market now and investors aren’t getting money back like they used to. Money isn’t going into funds as easily as it has for the last 15 to 20 years. It’s a function of our discipline and understanding how to invest in cycles. With this investment, we think we’re going into something where the operations have been well run for many years. We have the opportunity to take the ball to the next level,” Matthew Wilson, Oaktree Capital Management Managing Partner.
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