The Nevada Gaming Commission approved Las Vegas based Gaughan Gaming’s buy in and management takeover of Ely’s historic Hotel Nevada last week.
Gaughan Gaming, operated by John Gaughan in partnership with Paul Kellogg, will oversee operations at the 85-year-old casino as well as own a 50 percent share of the venerable property.
Financial terms of the deal were not disclosed. The deal also includes an ownership stake in The Postal Palace, O’Aces Bar and Huntridge Tavern in Las Vegas.
Gaughan, CEO of Las Vegas-based Gaughan Gaming, said he was “excited to be part of this historic property in central Nevada.”
“We look forward to becoming an integral part of the Ely and White Pine County community and we are committed to continue offering a strong level of customer service at this landmark property,” Gaughan said in a statement.
The six-story Hotel Nevada and Gambling Hall was built in 1929 and features 67 rooms. At the time it was built, the hotel was the tallest building in the state.
According to the company’s website, John Gaughan and Mike Gaughan Jr. are the third generation that has set its sights in continuing the success of their family. John and Mike combine over 35 years of experience to create a diverse, creative and successful gaming experience.
John Gaughan, quickly made his mark on Nevada’s key industry. John founded Las Vegas Dissemination Company in 1988. Since that time, the company has grown from a three person operation operating in a 300 square foot office near Fremont Street to its market leader position as the largest provider of pari-mutuel wagering and horse racing simulcasts. LVDC has became Nevada’s exclusive pari-mutuel service provider.
