Las Vegas Sun

March 28, 2024

MGM sells historic Railroad Pass Hotel & Casino

Railroad Pass Hotel and Casino

Christopher DeVargas

The Railroad Pass Hotel and Casino. Friday July 29th, 2011. The Railroad Pass Hotel and Casino is celebrating it’s 80th anniversary as the longest running casino in the United States.

MGM Resorts International is washing its hands of the oldest continually operating casino in the country, the company announced today.

MGM has entered into an agreement to sell the Railroad Pass Hotel & Casino, an 83-year-old property that was built before the Hoover Dam near Boulder City, to a commercial real estate firm. In a statement announcing the sale Friday afternoon, MGM implied that the historic casino no longer aligned with the company’s strategic goals.

“MGM Resorts is continually reviewing its portfolio of resorts, land, and other assets to ensure they align with our strategic framework as a leading entertainment and hospitality company,” said Dan D’Arrigo, MGM’s executive vice president, chief financial officer and treasurer, in the statement.

D’Arrigo said that “as a result of this review and careful consideration for the future of Railroad Pass Hotel & Casino, its employees, customers and the communities it has served for 83 years,” MGM decided to sell the property.

MGM is planning to sell Railroad Pass to First Federal Realty and Joseph DeSimone Jr., the firm’s principal and founder, who has lived in Henderson since 1991.

The new ownership plans to keep all of Railroad Pass’ employees, according to MGM’s statement.

“I’m very excited about the future of Railroad Pass, its employees, customers, vendors and the Las Vegas, Henderson and Boulder City communities,” DeSimone said in the statement. “I’m thrilled to be associated with this iconic and historic property.”

Railroad Pass opened in 1931 as a casino and dance hall. Its operator received the fourth gambling license in U.S. history to run the casino, and the mayor of Las Vegas granted Railroad Pass permission to operate a single roulette wheel.

State regulators must grant DeSimone a gaming license before he can be involved in any of the casino operations. Marcus Suan, a longtime gaming licensee, will oversee the gaming side in the meantime.

MGM did not disclose terms of the sale.

The Associated Press contributed to this report.

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