The Suncoast Hotel & Casino is one of the most popular venues in the city for locals not located on the Las Vegas Strip. It’s continued to generate revenue over the years, despite its less-than-desirable location. Interestingly, the land that the Las Vegas Suncoast Hotel sits on is going up for sale.
Not many predicted that this casino’s land would be sold. On the surface, it looked as if this gambling venue was outperforming many others in the city. Here’s what we know right now.
About the Las Vegas Suncoast Hotel & Casino
All the way back in 1998, Michael Gaughan announced plans for a $145 million project. It was revealed that this casino-resort would be constructed in the northwest area of Las Vegas, on the corner of Rampart Boulevard and Alta Drive. In 1999, the project was officially named Suncoast.
Construction began in late 1999 and was eventually wrapped up in mid-2020. The final cost of the Suncoast was $185 million.
This venue opened its doors to the public on September 12th of 2000. It was expected that 90% of the visitors would be Las Vegas locals. Visitors here were given access to the casino’s 78,000 square foot casino floor featuring 48 table games and hundreds of slots.
In 2016, Boyd Gaming partnered with Miomni to begin offering online sports gambling options to customers.
This gambling venue was won numerous awards over the years. In 2002, it was given the “Best of Las Vegas” award for having the best electronic poker gambling options. It attracted many visitors and gained a reputation as a true locals hotspot.
To the surprise of many, the Las Vegas Suncoast’s land is now going for sale.
Land Surrounding Suncoast Hotel is Going for Sale
Boyd Gaming, the company that took control of the Suncoast in 2004, has confirmed that the land surrounding this hotel-casino is officially going up for sale. Company officials are maintaining that they will continue to operate the casino.
Eric Carlton, an executive at real estate firm Colliers International, spoke about this land going for sale to the media this week.
“The Suncoast land is 49.13 acres in the highly coveted master planned community of Summerlin and presents a once in a lifetime generational opportunity,” according to the property listing on Loopnet.”
It’s important to note that only the land that this casino sits on is going for sale. The gambling venue itself is not being sold. Owners of this land are simply looking to cash out. According to Fox 5 Las Vegas, the asking price is $87 million.
It’s very likely that several companies will bid for this land. Buyers of this property will gain a fee title and could acquire up to $60,000 in annual rent.
Other Great Las Vegas Casinos for Locals
Las Vegas is home to a huge number of small casinos that are visited primarily by locals. The majority of these venues are located off the Las Vegas Strip. Perhaps the best casino for locals in the Red Rock Casino Resort.
Red Rock is owned by the Fertittas and is one of the coolest resorts in the city. It features more than 118,390 square feet of gambling space and a hotel with 830 rooms. There are enough gambling options to keep even the most hardcore gambler busy for days.
The South Point Casino & Spa is another Las Vegas gambling establishment that’s beloved by locals. There’s a fantastic casino here offering all of the gambling options you’re looking for. The hotel is fantastic and affordable, as well.
The Las Vegas Suncoast hotel remains one of the best venues for locals to gamble at. The land that this casino sits on is officially going for sale, yet it’s unlikely to have any major impact.
Stay tuned for more Las Vegas gambling news over the next few months!