SECTOR: Real Estate
CONFIRMED DATE: 2011
ROLE: Financial Advisor for Out-of-Court Operational, Tax, and Debt Restructuring
Binion's, built in 1951, and Four Queens, built in 1966, have been serving gamblers and tourists in downtown Las Vegas for decades. Province promptly renegotiated over two dozen land leases, resulting in a reduction in lease payments by over 70% and 30% for the next 20 years at Binion's and Four Queens, respectively. Province also cut the secured debt in half while preserving 100% of the equity. Thanks to Province's actions, both casinos saved over $100 million and returned to profitability for the first time in years.