The CBRE Group is marketing a 25.5-acre parcel that once was the site of the now-demolished Castaways Hotel and Casino in Las Vegas.
Station Casinos obtained the former casino for $33.75 million in 2004 and razed it about a year later. Station Casinos at the time said it was evaluating its options with the property, which no longer was viable in its state of condition after 50 years in business.
The Castaway Hotel and Casino opened in 1954 as the Showboat, and included an 80,000-square-foot casino and a 19-story hotel tower with 447 rooms. It also had a 106-lane bowling alley.
Stations Casinos seeks $259,000 per acre for the vacant parcel, or about $6.6 million.
The CBRE Group also is trying to sell a separate 56.6-acre parcel Station Casinos owns for $40 million. That parcel is located six miles south of the Las Vegas Strip on Las Vegas Boulevard.
Station Casinos owns and operates 20 casinos in Nevada and operates the Gun Lake Casino in Michigan.
