Emerald Island and Rainbow Club Casinos up for Sale

On November 15, 2023, it was announced that the Emerald Island and Rainbow Club casinos, located in downtown Henderson, Nevada, are being acquired by a unit of ECL Hospitality Management, LLC. The sellers of the gaming establishments are Boulder Highway Gaming, LLC and Water Street Gaming, LLC. Financial details of the transactions have not been disclosed. ECL Hospitality Management is owned by Ron Winchell and Marc Falcone.

The Nevada Gaming Control Board (NGCB) is set to review the deals on December 6, followed by the Nevada Gaming Commission (NGC) on December 21. Pending regulatory approval, the acquisitions are expected to close in January.

Falcone and Winchell, the owners of ECL Hospitality Management, have extensive experience in the gaming industry. Falcone previously worked as a sell-side analyst on Wall Street covering gaming stocks and later joined Fertitta Entertainment and Station Casinos. Winchell has experience in gaming, leisure, and real estate, and also owns ECL Corbin, LLC, which operates several gaming halls in Kentucky.

The Emerald Island is known as the “jewel of Henderson” and has over 450 gaming machines, including keno, slots, and video poker. The Rainbow Club, on the other hand, has a casino of nearly 8,800 square feet with 330 gaming machines and two restaurants.

In a statement, Falcone and Winchell expressed their excitement about maintaining and adding to the guest experience at the Emerald Island and Rainbow Club and becoming part of the family in the Downtown Henderson Water Street District.

Henderson, with a population of over 320,000, is the second-largest city in Nevada after Las Vegas.