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November 10, 2009

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Barcelona Hotel & Casino acquired for $12.6 million

By The Home News (contact)

Tuesday, Jan. 6, 2009 | 8:27 a.m.

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The Siegel Group Nevada Inc. today said it completed the acquisition of the Barcelona Hotel & Casino for about $12.6 million.

The property, on Craig Road near Nellis and Las Vegas boulevards, has a non-restricted gaming license and contains approximately 260 slot machines, table games, live sports-book and entertainment, a restaurant, bar and 179 rooms.

The 10.1 acre-property includes a convenience store with a Shell gas station currently leased by Green Valley Grocery as well as 5.15 acres of multi-family vacant land. SASCO Properties, a division of the Siegel Group, is assuming operational control of the property with the exception of gaming. That will be managed by United Coin Machine Co. while Siegel CEO Stephen Siegel goes through the licensing process.

Siegel said the property will be rebranded as a Siegel Slots & Suites.

In 2008, Siegel, best known locally for operating extended-stay hotels, acquired the Gold Spike Hotel & Casino in downtown Las Vegas, The Mount Charleston Hotel and the Mark Twain, Casa Palms and Deer Creek apartments.

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