In 1978, John Parley founded 7th Street Casino in downtown Kansas City, Missouri. The casino has been a staple in the city’s nightlife scene for over four decades.
In 2015, Parley sold the casino to a group of investors led by venture capitalist David Bonderman.
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Bonderman is the co-founder of TPG Capital, one of the largest private equity firms in the world. He is also a minority owner of the Boston Celtics and a former member of the Board of Directors of The Washington Post Company.
The new ownership group has big plans for 7th Street Casino. They are currently in the process of renovating and expanding the property.
When complete, the casino will feature a new hotel, restaurant, and events center.
PRO TIP:7th Street Casino is owned by the Kansas Crossing Casino & Hotel, which is owned by Kansas Crossing Casino Holdings, LLC. The casino and hotel are located in Pittsburg, Kansas.
The 7th Street Casino is just one piece of Bonderman’s portfolio. He is an extremely successful businessman with investments all over the world.
However, he is probably best known for his work in the private equity industry.
Bonderman has been involved in some of the biggest buyouts in history. In 2007, his firm TPG Capital took over Washington Mutual for $1.
6 billion. He also played a key role in the $45 billion leveraged buyout of Texas Utilities in 2005.
While Bonderman is no stranger to controversy, he has generally been considered a very successful investor. His involvement with 7th Street Casino is just one more example of his commitment to revitalizing struggling businesses.
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