Business

Water Street casinos to get a financial boost with three licensing approvals

The Nevada Gaming Control Board is recommending approval of three licenses which can be anticipated to boost on line casino competitors in downtown Henderson’s Water Street District.

In separate hearings, board members on Wednesday unanimously accredited suggestions of possession transfers of Water Street Gaming LLC, operator of the Rainbow Club on line casino, and Boulder Highway Gaming LLC, operator of the Henderson Emerald Island Casino, and for a race and sportsbook operation by Golden Gate Casino LLC at The Pass at Water Street.

The three suggestions are anticipated to be thought of for closing approval by the Nevada Gaming Commission on April 22.



The possession transfers contain twin brothers Michael and Timothy Brooks bringing in a new companion for the 2 Water Street casinos.

Michael Brooks instructed regulators that the brothers’ longtime business companion, Huntington Beach, California, resident Ted Polich, was being introduced on as a financial marketing consultant however wouldn’t be concerned within the day-to-day operation of the casinos.

The Brookses and Polich would every maintain 33 % possession of the Rainbow Club with Michael Brooks having simply over 50 % possession and Timothy Brooks and Polich having simply over 24 % possession of Emerald Island, which is positioned throughout the road from the Rainbow Club.

Michael Brooks instructed board members throughout his testimony that he’s seen an uptick in business on the Rainbow Club since The Pass at Water Street opened its doorways April 1. He believes having a cluster of casinos open within the space is helpful to every operation. Brooks stated he inspired Pass proprietor Joe DiSimone to purchase the previous Eldorado on line casino from Boyd Gaming Corp.

DiSimone, operator of the Railroad Pass on line casino property between Henderson and Boulder City, acquired the Eldorado for an undisclosed value in December and spent $7 million to refurbish it.

The Pass, after being open for a week, is aiming to draw extra prospects to the property to place race and sports activities bets.

Matt Metcalf, director of Circa Sports, instructed board members Wednesday the sportsbook at The Pass would have three home windows and two wagering kiosks with seven or eight staff and can be positioned adjoining to a bar.

Metcalf stated the sportsbook at The Pass can be the fifth sportsbook and second satellite tv for pc e book operated by Circa, which runs books at Circa, Golden Gate and the D on line casino in downtown Las Vegas, and a satellite tv for pc e book on the Tuscany. In the time since Circa first opened, Circa’s race and sportsbook operation has grown from 5 to 85 staff, Metcalf stated.

If accredited by the fee, Circa, by means of its Golden Gate subsidiary, would get a nonrestricted gaming license for race and sports activities swimming pools solely and will conduct off-track pari-mutuel race wagering.

Contact Richard N. Velotta at [email protected] or 702-477-3893. Follow @RickVelotta on Twitter.



Back to top button