Emerald Island and Rainbow Club casinos in Henderson sold
Two downtown Henderson casinos have officially sold, according to a Thursday announcement from the seller.
Emerald Island and Rainbow Club casinos on Water Street were sold to ECL Water Street LLC, a company owned by businessmen Marc Falcone and Ronald Winchell. The deal, which was subject to review by Nevada gaming regulators, was originally announced in November.
Falcone and Winchell are both involved in several other companies, many of which are associated with properties in the Las Vegas Valley. Winchell is listed as an officer for 23 active businesses, according to Nevada’s business portal, which lists Falcone as an officer for 11 active businesses.
Both Falcone and Winchell are listed on Nevada’s business portal as officers for ECL Development LLC, ECL Hospitality Management LLC, ECL Penn Holdings and ECL Water Street LLC. Winchell is an officer for several Jackpot Joanie’s LLC’s and Big Dog’s Café and Casino Inc.
The casinos’ former owner, Tim Brooks, will oversee the day-to-day operations as general manager going forward, according to the announcement.
“This sale was a hard decision to make as we have invested so much time and energy into both properties over the years — most importantly our customers and employees have become our family,” Brooks said in an emailed statement in November.
Winchell and Falcone could not be immediately reached for comment.
Nevada Gaming Commission unanimously approved the licensing of the properties to the new owner in December. The sale was approved by state gaming regulators in November.