Emerald Island and Rainbow Club Casinos Outside Las Vegas Change Hands

Article by : Erik Gibbs Jan 15, 2024

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A Thursday announcement from the seller confirms the official sale of two downtown Henderson casinos—Emerald Island and Rainbow Club casinos on Water Street. The buyer, ECL Water Street LLC, is owned by businessmen Marc Falcone and Ronald Winchell.

The completion of the deal, initially disclosed in November, was contingent on the approval of Nevada gaming regulators. Falcone and Winchell are engaged in various companies, many of which are linked to properties in the Las Vegas Valley.

Winchell is identified as an officer for 23 active businesses, while Falcone holds officer positions in 11 active businesses, as per Nevada’s business portal.

ECL Development LLC, ECL Hospitality Management LLC, ECL Penn Holdings and ECL Water Street LLC all have Falcone and Winchell listed as officers on Nevada’s business portal.

Winchell holds officer roles in several Jackpot Joanie’s LLC entities and Big Dog’s Café and Casino Inc.

The day-to-day operations of the recently sold casinos will be overseen by the former owner, Tim Brooks, who assumes the role of general manager, as per the announcement.

In a statement emailed in November, Brooks expressed the difficulty of the decision, citing the significant time and effort invested in both properties. He emphasized the close relationships developed with customers and employees, who have become like family over the years.

As of now, Winchell and Falcone have not been immediately available for comment. In December, the Nevada Gaming Commission granted unanimous approval for the licensing of the properties to their new owner.

State gaming regulators had previously greenlit the sale in November. Situated in Downtown Henderson, Nevada, the Emerald Island Casino stands as a top preference for local gaming entertainment in the state.

With an extensive array of Penny slots and being the sole 24-hour dining option in Downtown Henderson, NV, the Emerald Island casino has gained its spot in the community.

Located at 122 South Water Street in Henderson, Nevada, the Rainbow Club and Casino stands as a slots-exclusive establishment. Having opened its doors in 1967, this casino has been under the ownership of Peppermill Resorts since 1987.

Noteworthy for its Images Restaurant, situated within the casino premises, it was once celebrated for its extensive operating hours and diverse breakfast choices.