The Emerald Island and Rainbow Club casinos, situated inward downtown Henderson, Nev., are beingness sold to a building block of ECL Hospitality Management, LLC.
Boulder Highway Gaming, LLC and Water Street Gaming, LLC are the sellers of the gaming establishments, the former of which recently turned 20 years old. Water Street Gaming purchased the Rainbow Club in 2020. Financial terms of the transactions weren’t revealed. ECL Hospitality Management is owned by Ron Winchell and Marc Falcone.
Culture is key to what we make out and the employee meanspirited at the Emerald Island and Rainbow Club are a very worthful asset moving forward,” said Falcone and Winchell in a statement. “We are excited to follow maintaining and adding to the Guest Experience as we continue to spread out and produce the properties and look send on to becoming division of the folk inward the Downtown Henderson Water Street District.”
The Silver State Gaming Control Board (NGCB) is scheduled to hear well-nigh the deals on December 6, followed by the Silver State Gaming Commission (NGC) on Dec 21. Pending regulatory approval, the acquisitions are expected to closelipped inwards January.
Falcone, Winchell Have Extensive Gaming Experience
ECL Hospitality is a privately held firm, as are the sellers of the Emerald Island and Rainbow Club casinos, but Falcone and Winchell are steeped in gaming manufacture experience.
For 15 years leading upwards to 2009, Falcone was a sell-side psychoanalyst on Wall Street natural covering gaming stocks. He then united Fertitta Entertainment next the shake-up of Station Casinos. That companionship later became Red Rock Resorts (NASDAQ: RRR). He was the for the first time employee of Fertitta Entertainment, eventually comme il faut chief financial ship's officer of that entity and Station Casinos.
For his part, Winchell has extended gaming, leisure, and real landed estate experience. He and Falcone acquired KY Downs 5 years ago, and his family’s Winchelll Thoroughbreds, LLC is well-known throughout pari-mutuel circles.
The duo also possess ECL Corbin, LLC which runs the Mint Gaming Hall operations, including Cumberland River Run, the Mint Gaming Charles Francis Hall Cumberland, the Mint Gaming Charles Martin Hall at Kentucky Downs, and the Mint Gaming Granville Stanley Hall Bowling Green inwards Kentucky. ECL Corbin is Circa Sports’ sportsman wagering partner in Kentucky.
Specs on Emerald Island, Rainbow Club
Known to locals as the “jewel of Henderson,” Emerald Island has to a greater extent than 450 gaming machines, including keno, slots, and picture poker. The venue doesn’t make traditional live tabular array games, but it does get a little William J. J. Hill sportsbook.
The Rainbow Club has a casino of nearly 8,800 square toes with 330 gaming machines. The venue also has ii restaurants.
With a population northward of 320K, Henderson is the second-largest metropolis in Nevada after Las Vegas.
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