Laughlin’s Pioneer Casino-Hotel Listed for Online Sale, But Quickly Removed

Posted on: July 16, 2021, 04:17h. 

Last updated on: July 16, 2021, 02:16h.

Ed Silverstein @casinoorgedsilv Read More
Expertise: Legal, Tribal Gaming.

Laughlin, Nev.’s New Pioneer Hotel & Gambling Hall was listed for sale recently, with a $39 million asking price. The one problem was the listing for the 200,000 square-foot property reportedly was never authorized for sale, and it was withdrawn.

The Pioneer has over 400 rooms in its 42-year-old hotel
New Pioneer Hotel & Gambling Hall pictured above. A listing for the Laughlin, Nev. property was posted online. But it was withdrawn late this week because it was unauthorized. (Image: Kayak)

The listing for the three-story venue was featured on LoopNet.com earlier this week. The website features commercial properties

On Thursday, John Netzorg, a Las Vegas-based real estate lawyer representing Pioneer owner Ray Koroghli, said the ad was “unauthorized, ” and that it was removed “at the demand” of Koroghli, according to reporting from the Review-Journal.

On Friday, LoopNet continued to post a message regarding the Pioneer, “This Hospitality Property is no longer advertised on LoopNet.com.”

The Pioneer has several hundred rooms in its 42-year-old hotel. Amenities include a beach, pool, restaurant, and casino.

The property sits on 8.16 acres along the Colorado River. It is a 12-minute drive from the property to Laughlin/Bullhead International Airport in Bullhead City, Ariz., the listing said. Koroghli purchased the property in 2017, the Review-Journal reported.

Though most Nevada gaming properties are not for sale, in May a deal was announced for the Palms Casino Resort in Las Vegas. Station Casinos agreed to sell the off-Strip property to the San Manuel Band of Mission Indians. The announced price is $650 million.

Laughlin Attracts Retirees, RVs

Nearby Laughlin’s New Pioneer are such properties as the Golden Nugget Laughlin Hotel & Casino and the Tropicana Laughlin.

Many of Laughlin’s gaming properties are near the Colorado River. The town is some 97 miles southeast of Las Vegas.

It is known to be popular with retirees. But it attracts fewer visitors than more well-known destinations like Las Vegas or Reno. The Laughlin area also has many RV parks.

Like other parts of Nevada, the number of visitors to Laughlin dropped during the COVID-19 pandemic. But since vaccines have become available, the number of visitors and players has been increasing, the Review-Journal said.

The Las Vegas Convention and Visitors Authority (LVCVA) reported some 117,300 visitors went to Laughlin in May. In total, the town’s gaming properties saw $48.1 million in revenue in May, too.

That contrasts with 82,600 visitors and players in January, when gaming revenue was $33.5 million, the Review-Journal said.

Laughlin Violent Crime

Last December and January, Laughlin saw two violent crimes. In January, a man was assaulted and robbed outside of the Colorado Belle Casino Resort. The victim and the two other men had left Edgewater Casino Resort together and walked toward the Colorado Belle before the robbery.

In December, a woman was hospitalized after suffering injuries from a shooting at a Laughlin casino. The shooting took place in a hotel room at the Aquarius Casino Resort.