Las Vegas, NV – January 11, 2024 – LOGIC Commercial Real Estate is proud to announce the successful sale of the iconic Emerald Island & Rainbow Club Casino Portfolio in Downtown Henderson, NV. Located in the historic Water Street District, the sale marks a significant milestone in the area’s real estate landscape. Covering approximately 2.74 acres and featuring a combined gaming machine count of +/- 768, these casinos, each holding a Nevada non-restricted gaming license, represent a rare and highly coveted investment.
The Vincent Advisory Group’s targeted and confidential marketing process resulted in multiple offers and the successful identification of a qualified buyer. The properties were sold to an affiliate of ECL Water Street LLC, a Las Vegas-based company with 45 properties in three states, owned by businessmen Ron Winchell and Marc Falcone. Former owner, Tim Brooks, will continue overseeing both properties’ day-to-day operations as General Manager.
“It has truly been an honor to work with the ownership group in the sale of the Emerald Island and Rainbow Club Casinos in Downtown Henderson,” said Gino Vincent, CCIM. “Being a 2nd generation Nevadan, many of my family members lived in Downtown Henderson and owned businesses on Water Street dating back to the 1940s. We are humbled to have had the opportunity to assistownership in passing the torch to the next group to continue the development and revitalization of the historic Water Street District.”
Serving as the exclusive representative of the Seller, the Vincent Advisory Group showcased their commitment to delivering exceptional service and results. LOGIC Commercial Real Estate extends heartfelt congratulations to both the Seller and Buyer groups on the successful closing of this monumental transaction.