Gaming revenues in Deadwood have suffered in recent years. The industry peaked in 2012 when it generated $107.4 million. In 2016, revenues were down 8 percent from the peak, posting the lowest numbers since 2007.
The news is not entirely bad in Deadwood. Newer resorts outside of downtown seem to be performing well. This includes a recent renovation and expansion at Cadillac Jack's.
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The downtown area has been affected more by the decline in Deadwood tourism than newer properties have been. These properties tend to be older. Many were built in the late 1800s or early 1900s during the city's mining boom. This seems to have created a buyer's market as eight casinos in Deadwood are currently listed for sale.
Deadwood Gulch – $6.6 million
Deadwood Gulch is the largest gaming property for sale in Deadwood. It sits on 11.4 acres and includes a full-service restaurant. The casino hosts 131 machines. Unlike the other casinos for sale in Deadwood, Deadwood Gulch owns most of the gaming devices on its floor.
Deadwood Gulch once spread live blackjack. That is no longer the case. However, a new owner could easily bring live table games back. The listing notes that the property is already approved for an expansion that could nearly double the gaming space.
Midnight Star – $3 million
Midnight Star was Kevin Costner's Deadwood casino. It is the only casino listed for sale in Deadwood, South Dakota that is currently shuttered.
Midnight Star closed at the end of August. It was on the market a few days later. The building has three levels and includes two restaurants. The listing notes that Costner's memorabilia is not included in the sale. Costner sold 103 acres of undeveloped land in Deadwood last year.
Hickok's – $5 million
Hickok's is on Main Street. It offers 22 hotel rooms and a small casino that includes slots, video poker, and video table games. There is also an attached smoking lounge.
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Hickok's expanded into the former Cody's space at one point but later abandoned the neighboring property. That storefront is not a part of this sale as it is now a Harley-Davidson store.
Hickok House/Best Western – $2.4 million
Hickok House is located a few blocks away from downtown near the city hospital. Its hotel is branded as Best Western. The listing for the property gives an incorrect address of 737 Charles St. The listing agent for the property confirmed this error. Hickok House includes a small casino, full-service restaurant and three-bedroom house on the property.
Bodega – $4.4 million
Bodega is a moderate-sized casino in the middle of Main Street. The sale includes a full-service restaurant. Its hotel partner is the Bullock Hotel, which is also on the market. Bodega was previously a sister property of Gulches of Fun, now known as Comfort Inn/Deadwood Mini-Golf.
Bullock Hotel – $4.4 Million
Bullock Hotel is located across from the Deadwood parking deck on Main Street. It hosts 28 remodeled hotel rooms and a full-service restaurant. There are also dozens of video poker and slot machines. Video blackjack is also spread in the casino.
Deadwood Dick's – $2.77 million
Deadwood Dick's is located across from the post office, two blocks off Main Street. The property includes a small casino, hotel, and restaurant.
Iron Horse Inn – $1.7 million
The Iron Horse Inn is the least expensive casino for sale in Deadwood. It is located downtown, just off Main Street. It includes a small hotel and restaurant, as well as a gaming floor that was recently merged with the Wooden Nickel casino.
Saloon No. 10 No Longer on Market
Saloon No. 10 may be the best-known casino in Deadwood. Its previous location is where Wild Bill Hickok was shot. The chair he was seated in is on display at the new location.
Saloon No. 10 went on the market for $10.5 million in 2009. After many years on the market, no buyer was ever found. The listing was removed.
Loss of Other Downtown Deadwood Casinos
This decade has seen several casino closures in downtown Deadwood. The former Wild West gaming complex no longer has casinos.
Miss Kitty's closed in 2013. Bourbon Street shuttered that same year. One of the three storefronts occupied by the shuttered Bourbon Street casino is currently for sale. The Cody's property, once a casino, is now home to the expanded Deadwood Harley-Davidson store.
(Image credit: MLS #52303 – 677 Main Street)
NEWEST UPDATES: Station Casinos pulls land sale listings, says Reno casino still possible
Station Casinos' Reno experiment is on shaky ground as the company listed all of its land in The Biggest Little City — including the site of a proposed casino — for sale.
Station Casinos listed its two properties in Reno for sale on Saturday as the company continues to deal with the impact of the COVID-19 pandemic on Nevada's gaming industry. One is a large 89-acre piece of vacant land on Mount Rose Highway in south Reno. The other is an eight-acre property on a high-traffic location near the Reno-Sparks Convention Center and Reno Town Mall where Station once planned to build a new casino and family center.
The listings were made on Commercial Real Estate Exchange's website CREXi.com.
The listing of both properties is the latest development in the long-running saga involving the Las Vegas-based gaming company's efforts to break into the Reno market. Each time, Station's plans ended up facing resistance from some local hotel-casino operators as well as unexpected economic headwinds.
Look back: Station Casinos fuels biggest little debate in Reno
Back in 2005 when the Nevada economy was booming, Station came up with an ambitious proposal to build a large $500 million project that offered gaming as well as 900 hotel rooms. The proposed project boasted three 225-foot-high hotel towers as well as several spaces for retail. The proposal, which was approved by the Reno City Council in 2006, was accompanied by several land purchases by the company, including large vacant parcels in south Reno.
A couple of years later, however, the real estate bubble popped nationwide. Nevada, which was overly reliant on real estate and construction at the time, ended up being one of the hardest-hit states by the Great Recession as foreclosures flooded the market while gaming and tourism also saw a significant hit.
By 2014, Station Casinos started selling some of its land in Reno but still held onto its 89-acre property on Mount Rose Highway. Two years later, the company listed the property for sale as well. Station then pulled off the property from the market in November 2016 following an article by the Reno Gazette Journal about the listing. The company also came back with a new proposal in front of the Reno City Council, this time for a more scaled-down project on the corner of South Virginia Street and Kietzke Lane.
The new plans comprised nearly 21,000 square feet of casino space that included a sportsbook, a sports bar and mobile wagering kiosks. Station also planned to include four restaurants, a five-screen movie theater and a 12-lane bowling alley to attract families to the proposed property.
Stations' latest proposal, however, met resistance from the nearby Atlantis Casino Resort Spa. At the time, the lack of hotel rooms for the new project was criticized by John Farahi, CEO of Atlantis parent company Monarch Casino & Resort.
'All I'm saying is bring a project that brings in more tourism and enlarges the pie, which helps the whole community,' Farahi said in 2016. 'We would love for Station Casinos to build what they planned in 2005, which included a component of rooms, because they do a great job in building facilities like they've done in Las Vegas.'
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© Station Casinos Station Casinos' property on Kietzke Lane and South Virginia Street in Reno. Station was approved for a proposed casino on the site in 2016.The downtown area has been affected more by the decline in Deadwood tourism than newer properties have been. These properties tend to be older. Many were built in the late 1800s or early 1900s during the city's mining boom. This seems to have created a buyer's market as eight casinos in Deadwood are currently listed for sale.
Deadwood Gulch – $6.6 million
Deadwood Gulch is the largest gaming property for sale in Deadwood. It sits on 11.4 acres and includes a full-service restaurant. The casino hosts 131 machines. Unlike the other casinos for sale in Deadwood, Deadwood Gulch owns most of the gaming devices on its floor.
Deadwood Gulch once spread live blackjack. That is no longer the case. However, a new owner could easily bring live table games back. The listing notes that the property is already approved for an expansion that could nearly double the gaming space.
Midnight Star – $3 million
Midnight Star was Kevin Costner's Deadwood casino. It is the only casino listed for sale in Deadwood, South Dakota that is currently shuttered.
Midnight Star closed at the end of August. It was on the market a few days later. The building has three levels and includes two restaurants. The listing notes that Costner's memorabilia is not included in the sale. Costner sold 103 acres of undeveloped land in Deadwood last year.
Hickok's – $5 million
Hickok's is on Main Street. It offers 22 hotel rooms and a small casino that includes slots, video poker, and video table games. There is also an attached smoking lounge.
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Hickok's expanded into the former Cody's space at one point but later abandoned the neighboring property. That storefront is not a part of this sale as it is now a Harley-Davidson store.
Hickok House/Best Western – $2.4 million
Hickok House is located a few blocks away from downtown near the city hospital. Its hotel is branded as Best Western. The listing for the property gives an incorrect address of 737 Charles St. The listing agent for the property confirmed this error. Hickok House includes a small casino, full-service restaurant and three-bedroom house on the property.
Bodega – $4.4 million
Bodega is a moderate-sized casino in the middle of Main Street. The sale includes a full-service restaurant. Its hotel partner is the Bullock Hotel, which is also on the market. Bodega was previously a sister property of Gulches of Fun, now known as Comfort Inn/Deadwood Mini-Golf.
Bullock Hotel – $4.4 Million
Bullock Hotel is located across from the Deadwood parking deck on Main Street. It hosts 28 remodeled hotel rooms and a full-service restaurant. There are also dozens of video poker and slot machines. Video blackjack is also spread in the casino.
Deadwood Dick's – $2.77 million
Deadwood Dick's is located across from the post office, two blocks off Main Street. The property includes a small casino, hotel, and restaurant.
Iron Horse Inn – $1.7 million
The Iron Horse Inn is the least expensive casino for sale in Deadwood. It is located downtown, just off Main Street. It includes a small hotel and restaurant, as well as a gaming floor that was recently merged with the Wooden Nickel casino.
Saloon No. 10 No Longer on Market
Saloon No. 10 may be the best-known casino in Deadwood. Its previous location is where Wild Bill Hickok was shot. The chair he was seated in is on display at the new location.
Saloon No. 10 went on the market for $10.5 million in 2009. After many years on the market, no buyer was ever found. The listing was removed.
Loss of Other Downtown Deadwood Casinos
This decade has seen several casino closures in downtown Deadwood. The former Wild West gaming complex no longer has casinos.
Miss Kitty's closed in 2013. Bourbon Street shuttered that same year. One of the three storefronts occupied by the shuttered Bourbon Street casino is currently for sale. The Cody's property, once a casino, is now home to the expanded Deadwood Harley-Davidson store.
(Image credit: MLS #52303 – 677 Main Street)
NEWEST UPDATES: Station Casinos pulls land sale listings, says Reno casino still possible
Station Casinos' Reno experiment is on shaky ground as the company listed all of its land in The Biggest Little City — including the site of a proposed casino — for sale.
Station Casinos listed its two properties in Reno for sale on Saturday as the company continues to deal with the impact of the COVID-19 pandemic on Nevada's gaming industry. One is a large 89-acre piece of vacant land on Mount Rose Highway in south Reno. The other is an eight-acre property on a high-traffic location near the Reno-Sparks Convention Center and Reno Town Mall where Station once planned to build a new casino and family center.
The listings were made on Commercial Real Estate Exchange's website CREXi.com.
The listing of both properties is the latest development in the long-running saga involving the Las Vegas-based gaming company's efforts to break into the Reno market. Each time, Station's plans ended up facing resistance from some local hotel-casino operators as well as unexpected economic headwinds.
Look back: Station Casinos fuels biggest little debate in Reno
Back in 2005 when the Nevada economy was booming, Station came up with an ambitious proposal to build a large $500 million project that offered gaming as well as 900 hotel rooms. The proposed project boasted three 225-foot-high hotel towers as well as several spaces for retail. The proposal, which was approved by the Reno City Council in 2006, was accompanied by several land purchases by the company, including large vacant parcels in south Reno.
A couple of years later, however, the real estate bubble popped nationwide. Nevada, which was overly reliant on real estate and construction at the time, ended up being one of the hardest-hit states by the Great Recession as foreclosures flooded the market while gaming and tourism also saw a significant hit.
By 2014, Station Casinos started selling some of its land in Reno but still held onto its 89-acre property on Mount Rose Highway. Two years later, the company listed the property for sale as well. Station then pulled off the property from the market in November 2016 following an article by the Reno Gazette Journal about the listing. The company also came back with a new proposal in front of the Reno City Council, this time for a more scaled-down project on the corner of South Virginia Street and Kietzke Lane.
The new plans comprised nearly 21,000 square feet of casino space that included a sportsbook, a sports bar and mobile wagering kiosks. Station also planned to include four restaurants, a five-screen movie theater and a 12-lane bowling alley to attract families to the proposed property.
Stations' latest proposal, however, met resistance from the nearby Atlantis Casino Resort Spa. At the time, the lack of hotel rooms for the new project was criticized by John Farahi, CEO of Atlantis parent company Monarch Casino & Resort.
'All I'm saying is bring a project that brings in more tourism and enlarges the pie, which helps the whole community,' Farahi said in 2016. 'We would love for Station Casinos to build what they planned in 2005, which included a component of rooms, because they do a great job in building facilities like they've done in Las Vegas.'
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© Station Casinos Station Casinos' property on Kietzke Lane and South Virginia Street in Reno. Station was approved for a proposed casino on the site in 2016.Ray White Casino Properties For Sale
Station's new casino plan was approved by the Reno City Council. With the land now listed for sale, however, Station's plans in Reno are uncertain, especially given the impact of COVID-19 on its business. The company mentioned at an August earnings call that there's a chance that four of its Station properties in Southern Nevada will remain closed for good.
The Reno Gazette Journal has reached out to Station Casinos for comment.
— This is a developing story and will be updated
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Jason Hidalgo covers business and technology for the Reno Gazette Journal, and also reviews the latest video games. Follow him on Twitter @jasonhidalgo. Like this content? Support local journalism with an RGJ digital subscription.
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This article originally appeared on Reno Gazette Journal: Station Casinos lists all Reno properties for sale, including site for proposed casino