Hooters Faces Bankruptcy Despite Selling Las Vegas Casino and Closing 40 Restaurants

  • Hooters has struggled with low customer levels and financial difficulties
  • It sold its Las Vegas casino for $140m in 2019 and is still $300m in debt
  • Hooters Casino was popular for its proximity to the Strip and $1 blackjack
Andrew O’Malley

Hooters restaurant
Hooters of America is facing bankruptcy due to its $300m debt obligations despite efforts to raise money by selling its casino and closing underperforming restaurants. [Image: Shutterstock.com]

Hooters of America looks set to file for bankruptcy in the coming days as the company has struggled with falling customer numbers and the resulting financial woes.

sold its Las Vegas casino for $135m in 2019

While it sold its Las Vegas casino for $135m in 2019 and closed about 40 underperforming locations last year, it still is struggling to meet its $300m debt obligations. Bloomberg reported that the restaurant chain is working with a law firm to prepare a Chapter 11 filing.

Hooters Casino Hotel was a popular destination for people to play $1 blackjack as it was only a few minutes walk from the Las Vegas Strip, located behind the MGM Grand. It’s now named the Oyo Hotel & Casino Las Vegas.

Leave a Reply

Your email address will not be published. Required fields are marked *

Other Related News

We use cookies on this site to enhance your user experience.
By clicking any link on this page, you are giving consent to our use of cookies.

Cookie Overview

VegasSlotsOnline uses cookies to enhance your experience as you navigate through the website. Some of these cookies are categorized as essential because they are essential for the working of the basic functionalities of the website. Essential cookies are stored on your browser. We also use third-party cookies that help us analyze and understand how you use this website. These are non-essential cookies and are stored on your browser only with your consent. You have the option to opt-out of non-essential cookies, but this may affect your browsing experience.

Necessary  (Always Enabled)

Essential cookies are absolutely essential for the website to function properly. This category only includes cookies that ensure the basic functionalities and security features of the website. These cookies do not store any personal information.

Non-Essential ( Enabled Disabled )

Any cookies that may not be particularly necessary for the website to function and are used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-essential cookies. It is mandatory to procure user consent prior to running these cookies on your website.