By Howard Stutz
Northern Nevada casino operator Ferenc Szony has put the band back together.
Last week, Affinity Gaming announced it was selling Rail City Casino in Sparks to Truckee Gaming, reuniting the property with its former owner.
Szony, the CEO and managing partner of the Reno-based company, operated Rail City and several other Northern Nevada gaming establishments more than a decade ago when they were sold to Affinity’s predecessor, Herbst Gaming.
Two years after Herbst’s bankruptcy reorganization was finalized in 2011, Szony, who joined Herbst as an executive in 2007 and was helping steer the company through the post-bankruptcy matters, took back ownership of three of the casinos when he formed Truckee Gaming in 2012.
“We just couldn’t come to an agreement on Rail City,” he said last week after the sale was announced. “We’re glad to have it back. A lot of the same employees are still at Rail City and we look forward to welcoming them back into the company.”
Truckee Gaming, which is based in Reno, owns Gold Ranch Casino & RV Resort in Verdi, Gold Ranch Casino in Dayton and three Pioneer Crossing Casinos in Dayton, Fernley and Yerington. The company also owns Club Fortune Casino in Henderson. Szony said Rail City’s 100 employees give Truckee Gaming a workforce of roughly 500 companywide.
A sale price for Rail City was not disclosed and the transaction is expected to close by the end of the year, pending Nevada regulatory approval.
Szony said the timing for the transaction “is perfect” given the growth and changes in the Sparks gaming market. The Nugget Casino Resort, one of the largest casinos in Northern Nevada, is in the process of being sold to Century Casinos for $195 million, and the opening last August of the $120 million Legends Bay has given the Sparks region an economic boost.
Sparks gaming revenue grew 16.7 percent in 2022 to $14.2 million compared to a year ago. Szony said the region continues to grow with new housing and new businesses.
“The market dynamic and the growth in Sparks is good for all of us,” Szony said. “Century is a great operator and Legends added to the market. The growth is big enough for all of us.”
Absent hotel rooms, Rail City is targeted toward locals with its 24,000-square-foot casino housing 415 slot machines, a keno lounge, a William Hill race and sports book and dining options that include Ale House American Café and a buffet.
Century Casinos expects to close $195 million purchase of Sparks Nugget in April
Two days after Century Casinos received tentative Nevada regulatory approval for its $195 million purchase of the Nugget Casino Resort in Sparks, the company’s top executives offered insight into their ideas for the property.
“We are finalizing our plans for initial investments and upgrades, and I’m more excited than ever about the potential for improvements,” co-CEO Peter Hoetzinger said of the 1,382-room Nugget during the company’s fourth-quarter earnings conference call, which took place 48 hours after the Gaming Control Board recommended approval of the purchase from Marnell Gaming.
The Nugget, one of Northern Nevada’s largest casinos, will become Century’s flagship property. The Colorado-based company operates casinos in Colorado, Missouri, West Virginia and is acquiring a casino in Maryland.
“The immediate focus will be on the gaming floor as well as on raising the potential for synergy effects across all operational departments,” Hoetzinger said.
The company expects to close on the purchase during the first week of April. The closing is dependent on Century winning final approval from the Nevada Gaming Commission on March 23.
Hoetzinger said Century would close on its purchase of the Rocky Gap Casino Resort later this summer. Century and VICI Properties teamed up to acquire the Western Maryland casino for a combined $260 million. He said Century would pay down debt and return cash to shareholders once the casino purchases are closed.
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