The Gold's Gym convention is moving right along this week in Las Vegas, but so far, no announcement has been made about the speculated Gold's acquisition of Bally. Will that change in the next 24 hours?
In the four-plus years that I've been at Club Industry, no story has garnered this much attention from so many well-connected people in this industry. It seems that everybody has a source or an opinion on how this story will go down.
To give you an example, over the weekend, one source told me that the deal may be dead. A few hours later, another source told me that the deal is done, and that an announcement will come on Wednesday. It's hard to get more extreme than that.
With that in mind, I believe that we're at a crossroads with this story. I think the deal either will be announced at the convention, which ends Wednesday, or it will fall through this week. I just don't see this dragging on for another couple of weeks. I'm sure there are a lot of anxious Gold's Gym franchisees milling about the Mandalay Bay wondering what might happen. I hope they can find something to do in Las Vegas to take their minds off the situation.
It would have been great to cover this event in person. (Remember when we did Las Vegas in a day for the Planet Fitness-World Gym summit?) But according to a source of a source, the convention is private, and media typically are not invited. Another source says people are being tight-lipped at the convention about the speculated deal.
For now, the Gold's Twitter feed is providing us with a few snippets of the convention. On Monday, Lou Ferrigno was inducted into the Gold's Gym Hall of Fame. Earlier today, some convention goers enjoyed an early-morning workout.
And that's the latest from the Gold's Gym convention.