Northern Nevada Casino Closes

Sharkey’s Casino in Gardnerville, northern Nevada has closed after 43 years in business. The property may reopen with new ownership, according to reports. The casino will go up for auction in the first week of December.

Owner bought the casino for M and a handshake

Sharkey’s Casino in Gardnerville, Nevada, named for founder  Milos “Sharkey” Begovich, has closed after 43 years in business. The casino first opened in 1971.

According to the Associated Press, signs on the property’s doors say it’s “temporarily closed.” The Gardnerville Record-Courier reports that the casino will go up for sale at a December 4 auction, to be held on steps of the Douglas County Courthouse.

The casino is owned by Hal Holder’s Holder Hospitality Group. The company filed for Chapter 11 bankruptcy protection in April 2013. County records show Holder owes $3.8 million to creditors, the Record-Courier reported. Among them is a company owned by Carson Valley Inn owner Mike Pegram. Holder once said he bought Sharkey’s for $5 million in 2002, sealing the deal with a handshake.

The company emerged from bankruptcy after a federal bankruptcy judge accepted its reorganization plan.