Recently, my web site has been popping up on searches for 'Small Casinos For Sale in Las Vegas.'
True, there are a variety of small casino properties that are restaurants, bars, taverns, sports bars -- all with gaming -- that are for sale. However, there is only one actual small "Casino" that I know of that is "For Sale" in Las Vegas.
The owner wants $5 Million. It is a +/-5,000 SF building, on a 1.35 acre lot, just off a major Freeway and located on a high traffic street. It is surrounded by national credit tenants, multiple roof tops and Class A type Office buildings.
And, according to the owner, that is the only information he is willing to disclose without a potential Buyer providing him with their qualifying information e.g. Banks statements, proof of funds, etc.
And, regardless of the business' financials, the price is the price. Not negotiable! No financials are required to verify or argue that the property is worth more or less than his asking price. OR, that an appraisal MAY or MAY NOT justify the selling price.
WHY? (you may ask.) It is because this location has a "Grandfathered Unrestricted Gaming License." Which means to the untrained eye, that the local municipal government body is no longer giving those out. AND, any alteration to the existing property will require upgrading to the "new" codes. Thus, elimination of the "old" licensing status forever.
So,...IF interested...
Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes
True, there are a variety of small casino properties that are restaurants, bars, taverns, sports bars -- all with gaming -- that are for sale. However, there is only one actual small "Casino" that I know of that is "For Sale" in Las Vegas.
The owner wants $5 Million. It is a +/-5,000 SF building, on a 1.35 acre lot, just off a major Freeway and located on a high traffic street. It is surrounded by national credit tenants, multiple roof tops and Class A type Office buildings.
And, according to the owner, that is the only information he is willing to disclose without a potential Buyer providing him with their qualifying information e.g. Banks statements, proof of funds, etc.
And, regardless of the business' financials, the price is the price. Not negotiable! No financials are required to verify or argue that the property is worth more or less than his asking price. OR, that an appraisal MAY or MAY NOT justify the selling price.
WHY? (you may ask.) It is because this location has a "Grandfathered Unrestricted Gaming License." Which means to the untrained eye, that the local municipal government body is no longer giving those out. AND, any alteration to the existing property will require upgrading to the "new" codes. Thus, elimination of the "old" licensing status forever.
So,...IF interested...
Contacting David Howes is easy -- either by: davidATdavidhowesDOTnet OR call him at: 70 25 01 93 88 AND Follow David on Twitter: @DavidAHowes
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