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Restaurant In Casino For Sale
Location Nevada,United States
Asking Price Range $1.0M - $2.5M
Gross Revenues $2882800
Net Profit / Cash Flow $786600
Cash Flow Type Sellers Discretionary Cash
Seller Finance Yes
Year Established 2002
Number of Employees 20 - 34
Inventory 30000
Relocatable No
Number of Employees 20 - 34
Real Estate Leased
Training Seller will train for 4 weeks
Reason for Sale Relocating
Description Founded in 2002, this beautiful non-union, 124-seat Asian restaurant features the widest varieties of oriental delicacies in Las Vegas. The location, within a major Las Vegas hotel-casino, has exposure to tremendous guest traffic flow. It is immediately adjacent to the gaming floor, main entrance, and 800-seat Theater. This hotel: has nearly 2000 rooms, runs an average of 92% occupancy, has a huge convention and meeting space, a large, active event center, a bowling center, etc.
Approximately 30% of the sales are generated through complimentary meals provided to casino players by the Landlord. The other 70% of sales is from hotel guests, tourists, and local residents. Locals and tourists generate late-night sales. Take-out is available, but the majority of the sales is dine-in. Guests may charge to their rooms through the Micros system.
The Seller does not work full-time in the business; the management is self-contained. The two most highly compensated employees are the Senior Manager, at $3,400 per month, and Head Chef, at $5,500 per month.
The Buyer must have Asian food experience, a great reputation in other locations, and significant capitalization, as Landlord approval will be challenging.
As an alternative, the Seller would accept $2,300,000 with 50% down and 50% carry, on a case-by-case basis. The Seller will stay for four weeks to ensure a smooth orderly turnover, and will sign a non-compete agreement. For more information, including a valuation, please contact Len Krick, Broker, at 702.856.4701. Serious inquires only, please.
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