Tony Hsieh Property Promoting Lengthy-Shuttered Western On line casino in Vegas


Posted on: March 26, 2024, 04:10h. 

Final up to date on: March 26, 2024, 05:10h.

The Western, one of many scariest Las Vegas casinos to enter even earlier than it was completely shuttered in 2012, is again in the marketplace 4 years after the dying of its well-known final proprietor.

The Western because it appeared shortly after its 2012 closure. (Picture: Wikipedia)

Richard Hsieh, the daddy of late Zappos CEO Tony Hsieh and administrator of his property, disclosed his intent to promote the property to the Nevada Gaming Fee (NGC) final week. That’s when he utilized for a one-day license to function slot machines, a requirement to maintain the Western’s gaming license lively.

Days Gaughan By

The Western was opened on Fremont and ninth streets in 1970 by on line casino magnate Jackie Gaughan and his funding companion, Mel Exber. On the time, it was the world’s largest bingo parlor, with 1,020 seats. and a powerful 15K sq. toes of gaming house.

However its dimension was about the one spectacular factor concerning the Western, which occupied the bottom rung of Gaughan’s low-roller on line casino empire. At one time, that empire included the El Cortez, Plaza, Las Vegas Membership, and Gold Spike.

An undated postcard from the Western. (Picture: over50vegas.com)

By the flip of the millennium, the Western was past run down, its low-cost gaming tables all beer-stained and cigarette-burned by its rough-hewn native clientele.

Gaughan bought the property to Barrick Gaming in 2004, the identical 12 months the Related Press wrote: “On a stretch of despair that vacationers in Las Vegas seldom see, the Western Resort-On line casino stands out as a beacon for the broke and practically damaged.”

The Western was closed on Jan. 16, 2012, by Tamares Actual Property, the New York-based agency that acquired management of it in 2005 by way of a lease from Barrick.

In March 2013, Tamares bought the property for $14 million to an organization affiliated with Hsieh’s revitalization group, the Downtown Challenge, which spent $350 million gobbling up practically 100 properties up and down East Fremont Avenue.

For a sizzling minute, Hsieh reportedly thought-about remaking the Western into an e-sports stadium. Like so a lot of Hsieh’s concepts, although, that one by no means achieved actuality.

Aside from demolishing a related lodge, which closed in 2010, Hsieh did nothing with the Western earlier than dying in 2020 from accidents he suffered in a Connecticut home hearth.

Dara Goldsmith, the legal professional for Hsieh’s property, advised the NGC that the property has “lively curiosity within the property and are optimistic we’ll get this property arrange for redevelopment.”

Along with its gaming license, the Western’s tavern license with the town of Las Vegas was additionally prolonged till February 2025.

The dealer holding the Western’s itemizing is Logic Industrial Actual Property, the identical agency that made latest headlines by brokering the $24.7 million sale of the Gold Spike and adjoining Oasis Resort, the Downtowner Resort, the John E. Carson constructing, and the Nacho Daddy Constructing from Hsieh’s property to Boston Omaha Asset Administration.

The explanation it made headlines is as a result of each Logic and Boston Omaha are owned by the identical individual, Brendan Keating. He primarily bought the properties, which he was employed to buy round, to himself.

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