HOUSTON FIRM FINDS MAXIM-UM BUYER

December 06, 2001 11:10 PM
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The Houston-based Revanche LLC announced that a buyer has been found to purchase the recently shut down Maxim hotel casino, according to a Las Vegas Sun report.

The buyer was believed to be Lew Wolff, co-founder of the Los Angeles hotel firm Maritz & Wolff

"A confidentiality agreement would indicate there's an agreement somewhere with somebody," said Larry Stevens, an attorney for Revanche.

The Maxim, opened in 1979, fell in and out of bankruptcy several times. The casino briefly closed in late 1999 and reopened in December of that year.

Revanche reacquired the property in 2000 and had been marketing it for sale. The sale price was in the $20-$30 million range.