The Western, ace of the scariest Las Vegas casinos to enter yet before it was for good shuttered inward 2012, is backrest on the securities industry quaternion years after the death of its superfamous shoemaker's last owner.
Richard Hsieh — the father of belatedly Zappos CEO Tony Hsieh and administrator of his demesne — disclosed his purport to sell the attribute to the Battle Born State Gaming Commission utmost week. That’s when he applied for a one-day licence to run slot machines — a requirement to dungeon the Western’s gaming permission active.
Days Gaughan By
The Western was opened on John C. Fremont and 9th streets inward 1970 past casino magnate Jackie Gaughan and his investment partner, Mel Exber. At the time, it was the world’s largest bingo parlor, with 1,020 seats. It also had an telling 15K foursquare feet of gaming space.
But its size of it was virtually the only when impressive thing nearly the Western, which occupied the lowest stave of Gaughan’s low-roller casino empire. At unity time, that empire included the El Cortez, Plaza, Las Vegas Club, and Gold Spike.
By the turn over of the millennium, the horse opera was beyond ravel down, its chintzy gaming tables all beer-stained and cigarette-burned by its rough-hewn local clientele.
Gaughan sold the dimension to Barrick Gaming inwards 2004, the same twelvemonth the Associated Press wrote: “On a stretch of desperation that tourists inwards Las Vegas seldom see, the Western Hotel-Casino stands out as a pharos for the skint and nearly broken.”
The horse opera was shut on Jan. 16, 2012 past Tamares Real Estate, the New York-based unwavering that acquired contain of it inwards 2005 via a engage from Barrick.
In Mar 2013, Tamares sold it for $14 meg to a accompany connected with Hsieh’s revitalization group, the Downtown Project, which spent $350 gobbling upwardly nearly 100 properties upwards and down Orient Fremont Street.
For a hot minute, Hsieh reportedly considered remaking the Western into an e-sports stadium. Like so many of Hsieh’s ideas, though, that i never made the leap to reality.
Other than demolishing a connected hotel, which closed in(p) in 2010, Hsieh did naught with the horse opera before dying in 2020 from injuries he suffered inwards a Connecticut domiciliate fire.
Dara Goldsmith, the attorney for Hsieh’s estate, told the Silver State Gaming Commission that the landed estate has “active involvement in the attribute and are optimistic we testament capture this dimension countersink up for redevelopment.”
In increase to its gaming license, the Western’s tap house license, with the urban center of Las Vegas, was also extended — until Feb 2025.
The broker holding the Western’s listing is Logic Commercial Real Estate, the same unbendable that made recent headlines past brokering the $24.7 billion sales event of the Gold Spike and contiguous Oasis Hotel, the Downtowner Hotel, the John the Evangelist E. Kit Carson building, and the Nacho Daddy Building from Hsieh’s landed estate to Boston Omaha Asset Management.
The reason it made headlines is because both Logic and Boston Maha are owned past the same person, Brendan Keating. He essentially sold the properties, which he was hired to store around, to himself.
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