Hedge fund bigwig Phil Falcone is bucking the odds in his bet to be the new owner of Hooters Casino Hotel, the Las Vegas venture launched in 2006 by founders of the popular restaurant chain.
Falcone, who runs the $8 billion New York hedge fund Harbinger Capital Management, bought the casino's troubled $130 million senior loan, putting him in a prime ownership position for when the casino seeks bankruptcy protection, sources tell The Post.
But there's a glitch: Falcone isn't allowed to own the casino.
The investment guru and avowed hockey nut -- who skated for Harvard in college -- made a mint shorting toxic mortgages in 2007 and used a small slice of that fortune to buy a 40 percent stake in the NHL's Minnesota Wild.
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