The Real Deal Miami

Miami-based developer Peebles acquires Las Vegas casino

August 03, 2010 02:15PM

Don Peebles

Miami- based developer R. Donahue Peebles — the Peebles Corporation CEO and one of the wealthiest African-Americans, according to Forbes — has acquired a majority interest in the Mardi Gras Hotel & Casino in Las Vegas, his company announced today. Peebles, who also owns a 13-acre plot of land nearby on which he plans to develop the $2 billion Las Palmas Resort & Casino, said the new acquisition presents “tremendous potential” for the company’s “future development initiatives.” Peebles, whose company owns hotels, apartments and office space in South Florida, Las Vegas and Washington, D.C., most recently made headlines during a bruising legal battle in which he tried in vain to regain control of the 417-room Royal Palm Hotel in South Beach. TRD