A gaming and hospitality investor just scored big bucks to buy a casino and hotel in Bell Gardens, with enough left over to suggest bigger ambitions.
Petaluma-based Parkwest Casinos scored a $210 million line of credit in connection with its purchase of the Bicycle Hotel and Casino last month, according to property records filed with Los Angeles County.
Comerica Bank is listed as the trustee for the loan, acting on behalf of other unnamed lenders. The loan will allow Parkwest to draw on funds for future development and costs.
Parkwest Casinos, run by John Park, bought the property for about $103 million in April, property records show.