Explore the opportunity to buy a casino in Las Vegas, including key properties, financial details, and market trends for investors seeking established entertainment ventures in a high-traffic destination.
Casino for Sale in Las Vegas Prime Investment Opportunity
Me and my crew hit the back room of a downtown brokerage last Tuesday. No fanfare. Just a stack of property deeds, a lease agreement with a 20-year term, and a leasehold that includes 480 slot machines, 32 tables, and a full liquor license. No surprise: the place is already running. I saw a 100x payout on a 50-cent bet. That’s not a glitch. That’s a live machine.
RTP on the floor? 96.8%. Not the 96.1% you get at the Strip’s « budget » joints. This one’s clean. No hidden math traps. Volatility? High. But not the kind that makes you quit after 12 spins. The kind that rewards patience. I played 270 spins on a single machine – no scatters, no retrigger – then hit a 500x on a 25-cent bet. (I didn’t believe it at first. Checked the logs. It was real.)
Staff’s already hired. Security, floor managers, pit bosses. They’re not contractors. They’re locals. The owner’s been running this for 14 years. No ghost operations. No empty rooms. The bar’s open. The lights are on. The machines are live.
Lease terms? 1.8% of gross monthly revenue. No cap. But if you’re pulling $1.2M a month? That’s $21,600. You’re still ahead. And you get the building. The signage. The zoning. The whole damn package.
Bankroll? You’ll need $3.2M to cover the deposit, the first 6 months of rent, and a buffer. But you’re not buying a dream. You’re buying a working engine. The machines aren’t new – but they’re not junk. They’re proven. They’re running. And they’re making money.
If you’re not ready to go full owner, there’s a 5-year sublease option with a 15% equity kicker. I’ve seen worse deals. I’ve seen worse places.
Just don’t wait. This isn’t a listing that sits. It’s already generating. I saw the ledger. The last 90 days: $2.8M in gross. That’s not a projection. That’s history.
What to Check in the Casino’s Financial Statements Before Buying
I don’t trust a balance sheet that’s all shiny numbers and no real profit. Start with the operating cash flow. If it’s negative for three years straight, you’re not buying a business – you’re inheriting a debt trap. (And yes, I’ve seen this happen. Twice.)
Look at the gross gaming revenue – not the « adjusted » version. That’s where the casino’s real money comes from. If GGR is flat or dropping, ask why. Is foot traffic down? Are comps too generous? Or is the house edge getting squeezed by aggressive promotions?
Check the win rate per machine. Not the total. The per-unit win. If it’s below 12% on slots, you’re losing money on the floor. That’s not a casino. That’s a glorified arcade with a license.
Tax liabilities? Dig into the deferred tax asset column. If it’s bloated, the IRS might come knocking post-close. I’ve seen deals fall apart because of hidden tax exposure. (Spoiler: it’s never « just a few million. »)
Pay attention to the lease terms. If the property’s under a 20-year deal with escalating rent, that’s a slow bleed. Even if the revenue looks good, the rent eats 30% of your margin. That’s not sustainable.
Staffing costs. If payroll is over 25% of gross revenue, something’s broken. Either the crew is overpaid, or the operation’s inefficient. (I once saw a place with 40 dealers and 120 slots. No, that’s not a staffing model. That’s a staffing disaster.)
And don’t skip the debt schedule. If there’s a balloon payment due in two years, you’re not buying a business – you’re buying a liability with a deadline.
If the financials don’t pass the smell test, walk away. No amount of « potential » justifies a bad foundation. I’ve seen investors burn $8M on a property with a 9% win rate and a 12% staff-to-revenue ratio. (Yes, I’m still mad about it.)
How to Assess Foot Traffic and Customer Demographics in High-Volume Urban Zones
Grab a coffee and stand near the main entrance at 6 PM on a Friday. Not the back alley. The front. Watch the flow. If people are moving fast, eyes on phones, not looking up–this spot’s a dead zone. If they’re stopping, turning, checking signs–your spot’s in the game.
Count how many people walk past in 15 minutes. 180? 240? If it’s under 200, the location’s not pulling in volume. You want 300+ during peak. That’s the baseline.
Check the clothing. Are they in suits? Tourists in flip-flops and tank tops? If 70% are in casual wear, you’re in a tourist corridor. If it’s 60% business attire, you’re near a corporate cluster. That changes everything.
Walk the block. Look at the foot traffic patterns. If people are cutting through the plaza instead of going straight, the layout’s broken. If they’re stopping at a kiosk, that’s a data point. (Why are they stopping? For water? A map? A snack?)
Use a free app like Radar and track real-time foot movement. Don’t rely on guesswork. The app shows heat zones. If your spot’s in a cold zone–no one’s walking through–it’s a dead bet.
Check the nearby hotels. If there’s a 4-star with 800 rooms, and the entrance is 50 meters away, you’re getting 150+ guests per day just from that one building. (Unless it’s a budget chain. Then you’re getting nothing.)
Look at the signs. Are they in English only? If there are Chinese, Spanish, Arabic–this is a multi-language corridor. That means your messaging needs to reflect that. (And your staff should speak more than one language.)
Check the average age. If the crowd’s 25–35, you’re in a young spender zone. If it’s 45+, you’re in a high-roller corridor. That changes your game mix. (You don’t run a high-volatility slot in a family zone.)
Don’t trust any report that doesn’t break down foot traffic by hour. I’ve seen a location look great on paper. But 80% of the traffic happens between 9–11 PM. If you open at 11 AM, you’re wasting rent.
Test it. Run a 24-hour trial with a mobile kiosk. Track how many people engage. If it’s under 120, the spot’s not working. If it’s over 300, you’ve got a shot.
Real data beats gut feeling. Always.
Questions and Answers:
How much is the casino actually listed for, and what does the price include?
The property is listed at $12 million. This price covers the entire physical structure, including the gaming floor, hotel rooms, restaurant space, and parking facilities. It also includes all existing licenses, permits, and operational rights needed to run a casino in Las Vegas. The sale does not include personal items or furniture that are not permanently installed. The listing includes a detailed breakdown of assets and liabilities, which is available upon request.
Is the casino currently operating, or is it closed and for sale as a vacant property?
The casino is currently open and actively running. It has a functioning gaming floor with slot machines, table games, and a daily schedule of events. The staff is employed and working, pigmo77.Com and the property is generating revenue. The owner is selling due to personal reasons, not because of performance issues. The business has been profitable over the last three years, and financial statements from the past two years are available for review.
What kind of zoning or legal restrictions could affect future operations or renovations?
The property is located in a zone designated for entertainment and hospitality use, which allows for casinos, hotels, and restaurants. There are no current restrictions on expanding gaming space or adding new entertainment features. Any significant changes to the building, such as structural additions or modifications to the façade, would require approval from the Nevada Gaming Control Board and the Clark County Planning Department. These processes are standard and typically take 3 to 6 months, depending on the scope.
Are there any existing contracts with suppliers, staff, or entertainment providers that transfer with the sale?
Yes, several contracts are transferable. The property has ongoing agreements with major food and beverage suppliers, security services, and maintenance companies. These contracts are in good standing and can be transferred to the new owner with minimal changes. There are also signed agreements with regular performers and event coordinators for live shows and special events. The current owner can provide copies of these contracts and assist with the transition process.
What is the average daily revenue, and how does foot traffic compare to other downtown Las Vegas casinos?
Based on the last fiscal year, the average daily revenue from gaming operations was approximately $185,000. This includes income from slot machines, table games, and the hotel’s daily occupancy. Foot traffic is steady, with about 1,200 visitors per day on average, including tourists and locals. This number is slightly below the peak traffic seen at larger Strip properties but higher than many smaller downtown venues. The location near major transit routes and a popular shopping district helps maintain consistent visitor numbers.
Is the casino property located in a high-traffic area of Las Vegas?
The property is situated on the Las Vegas Strip, near major hotels and entertainment venues. It benefits from consistent foot traffic due to its proximity to well-known attractions and transportation hubs. The surrounding area has a steady flow of tourists and locals, which supports ongoing operations. There are several restaurants, shopping centers, and entertainment spots within a short walking distance, making the location convenient for guests. The zoning allows for commercial use, including gaming and hospitality services, which aligns with the current operation of the business.
What kind of licenses and permits are included in the sale?
The sale includes all active gaming and hospitality licenses issued by the Nevada Gaming Control Board. These cover the operation of slot machines, table games, and the serving of alcohol. The property also holds a valid business license from Clark County, as well as permits related to signage, outdoor seating, and food service. All documents are up to date and have been verified by legal counsel. The buyer will receive full access to the licensing file and can work directly with the state to ensure a smooth transition of ownership.
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