Commission approves sale of 50 percent stake in Golden Gate Hotel.

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The GOLDEN GATE HOTEL in downtown Las Vegas sells 50% interest to an investment partnership: “A 50 percent interest in Las Vegas’ oldest hotel-casino was sold [Mid-March, 2008] to an investment partnership controlled by two brothers whose family made their fortune manufacturing nuts and bolts in the Midwest.” read more…
“The partnership [“Desert Rock“] owns 19 percent of Riviera Holdings, the parent company of the Riviera, and has made several land investments in the Las Vegas Valley. Through some family trusts, Derek Stevens and his 37-year-old brother recently completed the purchase of the Las Vegas 51s, the top minor-league baseball affiliate of the Los Angeles Dodgers.” read more…
“We won’t touch the shrimp cocktail,” Stevens said of the Golden Gate’s famous menu item. “It’s the best shrimp cocktail in Las Vegas.”
“Desert Rock plans to invest more money in the property to remodel the hotel’s 106 rooms and refurbish the property’s public areas by building new restrooms, adding a sound system inside the casino and enhancing the signs on Fremont Street.”
“Jack Binion, scion of the Benny Binion gambling empire downtown, said he thinks the area will benefit from the upscale boom on the Strip.”
“As the midlevel places get imploded on the Strip, I think it is going to drive more people downtown,” said Binion, 71, whose family no longer operates Binion’s. “Everybody is into nostalgia. There is a lot of nostalgia down there.”

“Review-Journal reporter Benjamin Spillman contributed to this article. Contact reporter Howard Stutz at or (702) 477-3871.”
The preponderance of this information is from The Review Journal.

“Established in 1906, the Golden Gate is proud to be Las Vegas’ most historic hotel/casino and the smallest hotel on Fremont Street, with only 106 rooms. Our guests can enjoy the intimate atmosphere of an historic hotel and then step outside our front doors into the grandeur and excitement of the Fremont Street Experience, with dazzling free light shows and special events. Our shrimp cocktail started a Las Vegas tradition over 40 years ago, and still is named “Best of Las Vegas” year after year. We offer great accommodations, plenty of gambling action and excellent food in a warm and friendly environment.” [Access the Golden Gate’s Website.]

The LasVegasBuffetClub says: “I hope they don’t touch the diner. The Bay City Diner at The Golden Gate is a classic diner. It’s ambience and patina can’t be replaced.”

Go to The LasVegasBuffetClub’s page for the Golden Gate Hotel.
LasVegasBuffetClub.Com – Home page…
Take me to The LasVegasBuffetClub’s COUPON page…