Downtown Las Vegas’ Western Hotel & Casino has been put back on the market more than 10 years after it was first shuttered, according to counsel representing the estate of the casino’s deceased owner, former Zappos CEO Tony Hseigh.
At a hearing before the Nevada Gaming Commission March 21, attorney Dara Goldsmith told the commission that her client, Tony’s father Richard Hseigh, intends to dispose of the property.
The immediate purpose of the appearance was to obtain a one-day grant to operate slots at the venue, which is required by state law in order to keep the casino’s gaming license active. The hotel portion of the venue was demolished years ago, and the casino has been largely inactive since 2012 other than the required one-day grants.
Goldsmith said the venue’s tavern license from the city of Las Vegas was also extended until February 2025.
According to CDC Gaming Reports, Goldsmith told commissioners that there is “active interest in the property,” and that it is “still in pristine condition,” despite the fact that a prospective buyer pulled out of a deal in the last year.
Commissioners were curious as to why Hseigh’s estate has been open so long, given that he died in November 2020. Goldsmith said that the IRS frequently audits estates that warrant a 40 percent estate tax, and she estimated that the earliest closing date would be in 2027.
Now that the casino and tavern licenses are renewed, the estate is expected to significantly increase its sale efforts.
