The New Pioneer casino in Laughlin, NV, reportedly for sale
By Bob Garcia
A for sale ad for the property was published, but quickly removed after the press found out
After the arrival of the COVID-19 pandemic, many places around the world suffered drastically; so much so that even in recent times, they have not been able to find a desired recovery. Laughlin, NV is one of them. Tourist traffic on this side of the border continues to fall further and further behind, which is why one casino property there, seeing that its operations are not getting back to normal, has been listed for sale on a commercial real estate listing site. The New Pioneer Hotel & Gambling Hall is reportedly seeking a new owner.
Unfortunately for The New Pioneer, its recovery has not been similar to casinos in other parts of the country, where they are breaking records with their revenues. The property is located on the banks of the Colorado River about 100 miles southeast of Las Vegas and was reportedly spotted this week on a listing site called LoopNet asking $39 million for the keys to be turned over to a new owner.
There has been controversy surrounding this posting, as it was removed yesterday morning after the Review-Journal made inquiries regarding its sale the day before. John Netzorg, attorney for New Pioneer owner Ray Koroghli, made it clear that the ad had not received proper approval and was removed from the website after his client requested it.
Although the property has a total of 400 rooms and very nice amenities, including a private beach, it seems that visitors no longer find it attractive enough. Tourism plummeted in Laughlin after the coronavirus outbreak went global. While many other parts of the country are beginning to see the light on the horizon, this territory has not seen much of a positive impact.