Regulators Say OK to Buyout of Famous Binion's Casino

The former home of the World Series of Poker, Binion's Gambling Hall & Hotel, will once again be owned by a Las Vegas operator after Nevada regulators on Thursday approved its $32 million purchase from MTR Gaming Group Inc. of West Virginia.

TLC Casino Enterprises Inc., owned by Terry Caudill, is expected to close on the deal in February. Caudill's company also owns the Four Queens casino-hotel across the street. After the unanimous approval Thursday by the Nevada Gaming Commission, Caudill said he expected to turn a profit in the first year after immediately investing $10 million to renovate rooms and the casino area and completing the installation of coinless slot machines.