Not many months ago, the Hooters Hotel and Casino in Las Vegas announced the sale of its property to a new investor, but only a few days before concreting the deal, the negotiation seem to be in jeopardy after the potential buyer failed to make a $500,000 non-refundable deposit that was going to close the first stage of the deal on Friday, leading Hooters to cancel or at list delay the operation. Calif.-based Hedwigs expressed its wish to have a second chance to review the actual terms and plan a more “suitable” deal.

Las Vegas Top Tier Hedwigs Principal Richard Bosworth says it’s all about "market dynamics", the deal has been on the table for 14 months and Hedwigs has already invested over $6 million in fees and other expenses related to the purchase, a situation that has taken the investment group to reconsider the terms of the agreement. Hedwigs expressed a few months ago its plan to invest $225 million to buy the 727-room Hooters Hotel and Casino, and invest an extra $130 million to remodel the hotel  and change its name.

Before its official opening in February 2006, Hooters invested a total of $130 million to modernize and redecorate the Hotel San Remo.

Hooters president and minority share owner Richard Hessling said that the Hooters Hotel Las Vegas will continue with its normal operations, however, Hessling said that they are open to review other offers or start planning an expansion. Hessling expressed that Hooters will not refer about the deal with Hedwigs.