{"id":298904,"date":"2023-11-15T12:13:20","date_gmt":"2023-11-15T18:13:20","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=298904"},"modified":"2023-11-15T12:19:36","modified_gmt":"2023-11-15T18:19:36","slug":"emerald-island-rainbow-club-casinos-are-being-sold","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/emerald-island-rainbow-club-casinos-are-being-sold\/","title":{"rendered":"Emerald Island, Rainbow Club Casinos Acquired by ECL Hospitality"},"content":{"rendered":"<p>The Emerald Island and Rainbow Club casinos, located in downtown Henderson, Nev., are being sold to a unit of ECL Hospitality Management, LLC.<\/p>\n<figure id=\"attachment_298913\" aria-describedby=\"caption-attachment-298913\" data-style=\"width: 858px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-post-thumbnail-858xAUTO wp-image-298913\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/EI3-858x644.jpg\" alt=\"Emerald Island\" width=\"858\" height=\"644\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/EI3-858x644.jpg 858w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/EI3-430x323.jpg 430w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/EI3.jpg 1200w\" sizes=\"(max-width: 858px) 100vw, 858px\" \/><figcaption  id=\"caption-attachment-298913\"class=\"text-description\">The Emerald Island Casino in Henderson, Nev. That venue and the Rainbow Club are being sold. (Image: X)<\/figcaption><\/figure>\n<p>Boulder Highway Gaming, LLC and Water Street Gaming, LLC are the sellers of the gaming establishments, the former of which recently turned 20 years old. Water Street Gaming purchased the Rainbow Club in 2020. Financial terms of the transactions weren&#8217;t revealed. ECL Hospitality Management is owned by Ron Winchell and Marc Falcone.<\/p>\n<blockquote class=\"main-blockquote\"><p>Culture is key to what we do and the employee base at the Emerald Island and Rainbow Club are a very valuable asset moving forward,\u201d said Falcone and Winchell in a statement.\u00a0 \u201cWe are excited to be maintaining and adding to the Guest Experience as we continue to expand and grow the properties and look forward to becoming part of the family in the Downtown Henderson Water Street District.\u201d<\/p><\/blockquote>\n<p>The Nevada Gaming Control Board (NGCB) is scheduled to hear about 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.<\/p>\n<h2>Falcone, Winchell Have Extensive Gaming Experience<\/h2>\n<p>ECL Hospitality is a privately held firm, as are the sellers of the Emerald Island and Rainbow Club casinos, but Falcone and Winchell are steeped in gaming industry experience.<\/p>\n<div class=\"callout\">\n<p>For 15 years leading up to 2009, Falcone was a sell-side analyst on Wall Street covering gaming stocks. He then joined Fertitta Entertainment following the reorganization of Station Casinos. That company later became <a href=\"https:\/\/www.casino.org\/news\/red-rock-resorts-stock-draws-sell-side-praise-after-q3-update\/\">Red Rock Resorts<\/a> (NASDAQ: RRR). He was the first employee of Fertitta Entertainment, eventually becoming chief financial officer of that entity and Station Casinos.<\/p>\n<\/div>\n<p>For his part, Winchell has extensive gaming, leisure, and real estate experience. He and Falcone acquired Kentucky Downs five years ago, and his family\u2019s Winchelll Thoroughbreds, LLC is well-known throughout <a href=\"https:\/\/www.casino.org\/news\/preakness-handle-down-from-2021-belmont-unlikely-for-early-voting-epicenter\/\">pari-mutuel circles<\/a>.<\/p>\n<p>The duo also own ECL Corbin, LLC which runs the Mint Gaming Hall operations, including Cumberland Run, the Mint Gaming Hall Cumberland, the Mint Gaming Hall at Kentucky Downs, and the Mint Gaming Hall Bowling Green in Kentucky. ECL Corbin is <a href=\"https:\/\/www.casino.org\/news\/circa-sports-will-run-silverton-casino-sportsbook\/\">Circa Sports\u2019<\/a> sport wagering partner in Kentucky.<\/p>\n<h2>Specs on Emerald Island, Rainbow Club<\/h2>\n<p>Known to locals as the \u201cjewel of Henderson,\u201d Emerald Island has more than 450 gaming machines, including keno, slots, and video poker. The venue doesn\u2019t have traditional live table games, but it does have a small William Hill sportsbook.<\/p>\n<p><strong>The Rainbow Club has a casino of nearly 8,800 square with 330 gaming machines. The venue also has two restaurants<\/strong>.<\/p>\n<p>With a population north of 320K, Henderson is the second-largest city in Nevada after Las Vegas.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Emerald Island and Rainbow Club casinos, located in downtown Henderson, Nev., are being sold to a unit of ECL Hospitality Management, LLC. Boulder Highway Gaming, LLC and Water Street Gaming, LLC are the sellers of the gaming establishments, the former of which recently turned 20 years old. Water Street Gaming purchased the Rainbow Club [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":298913,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,81886,32093],"tags":[81903,23,81966],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Emerald Island, Rainbow Club Casinos Are Being Sold<\/title>\n<meta name=\"description\" content=\"Emerald Island, Rainbow Club Henderson casinos sold to ECL Hospitality.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/emerald-island-rainbow-club-casinos-are-being-sold\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Emerald Island, Rainbow Club Casinos Are Being Sold\" \/>\n<meta property=\"og:description\" content=\"Emerald Island, Rainbow Club Henderson casinos sold to ECL Hospitality.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/emerald-island-rainbow-club-casinos-are-being-sold\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-15T18:13:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-15T18:19:36+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/EI3.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/emerald-island-rainbow-club-casinos-are-being-sold\/\",\"url\":\"https:\/\/www.casino.org\/news\/emerald-island-rainbow-club-casinos-are-being-sold\/\",\"name\":\"Emerald Island, Rainbow Club Casinos Are Being Sold\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/emerald-island-rainbow-club-casinos-are-being-sold\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/emerald-island-rainbow-club-casinos-are-being-sold\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/EI3.jpg\",\"datePublished\":\"2023-11-15T18:13:20+00:00\",\"dateModified\":\"2023-11-15T18:19:36+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Emerald Island, Rainbow Club Henderson casinos sold to ECL Hospitality.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/emerald-island-rainbow-club-casinos-are-being-sold\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/emerald-island-rainbow-club-casinos-are-being-sold\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/emerald-island-rainbow-club-casinos-are-being-sold\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/EI3.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/11\/EI3.jpg\",\"width\":1200,\"height\":900,\"caption\":\"The Emerald Island Casino in Henderson, Nevada. That venue and the Rainbow Club are combining their loyalty programs. 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Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. 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That venue and the Rainbow Club are combining their loyalty programs. 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Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. 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