Gaughan Buys Into Ely’s Hotel Nevada

The Las Vegas casino company Gaughan Gaming has acquired a 50 percent ownership stake in the Hotel Nevada and Gambling Hall in Ely. Financial terms of the deal were not disclosed.

Property built in 1929

Gaughan Gaming now owns a half-ownership stake in the Hotel Nevada and Gambling Hall in Ely. The Nevada Gaming Commission approved the acquisition last month. A sale price was not disclosed. The deal also includes part-ownership of  the Postal Palace, O’Aces Bar and Huntridge Tavern in Las Vegas.

Las Vegas-based Gaughan Gaming, run by CEO John Gaughan and his partner Paul Kellogg, will operate the 85-year-old casino-hotel. Gaughan said he is “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 has 67 rooms. At the time it was built, the hotel was the tallest building in the state.