Laughlin hotel-casino is on the market
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With tourist traffic to Laughlin climbing back from the pandemic, a hotel there is up for sale.
The New Pioneer, one of several casinos lining the banks of the Colorado River about 100 miles southeast of Las Vegas, is on the market for $39 million, as seen on commercial-property listing site LoopNet.
It features more than 400 rooms; the Bumbleberry Flats restaurant, whose menu includes chicken and waffles and bacon meatloaf; and a private beach.
Its roof and many of the rooms have been upgraded, listing agent Khaleda Noor of Award Realty Corp. told the Review-Journal.
Laughlin, a small, unincorporated town across the river from Arizona, generates a fraction of the visitor volume and gambling revenue as Las Vegas. The low-key tourist destination has long been known for being popular with retirees who drive in, and for offering low-priced rooms, sunshine, open desert, and boating and other activities on the Colorado.
Still, like Las Vegas, tourism plunged in Laughlin after the coronavirus outbreak upended daily life and has been rebounding as vaccines roll out.
An estimated 117,300 people visited Laughlin in May, and the town generated $48.1 million in gambling revenue that month, up from 82,600 visitors and $33.5 million in gambling revenue in January, according to Las Vegas Convention and Visitors Authority figures.
New Pioneer owner Ray Koroghli acquired the property in 2017, Clark County records indicate. He could not be reached for comment Wednesday.
The Lowden family’s Archon Corp., former owner of the Pioneer, as it used to be known, said in a 2010 filing with the Securities and Exchange Commission that the hotel-casino primarily targets “mature, out-of-town customers” who live in central Arizona and Southern California; retirees from the Midwest, Northeast and Canada who travel to the Southwest during the winter; and locals.
