In a statement given on Monday, the possessor of casinos in downtown Las Vegas and North Las Vegas- Fifth Street Gaming declared about its contract to handle the working of two Siegel Group Casinos. The contract incorporates Siegel Slots and Suites with 171 rooms at 5011 E. Craig Road by Nellis Boulevard and the Gold Spike downtown with 162 rooms. The conditions of the contract are kept secret.
At present, the functions of Siegel Group Casinos are being administered by Golden Route Operations, the treaty of which is going to terminate shortly. It will keep on administering the casinos till the time supervisory bodies give their consent to the Fifth Street Gaming. As informed by its CEO, Seth Schorr; there are around 150 gaming machines in the two casinos, while there 5-6 table games exist in the Gold Spike. The reconstruction of the Downtown Grand Hotel and Casino which was earlier known as the Lady Luck is also being supervised by Fifth Street Gaming. This hotel-casino is programmed to restart by the end of 2013. The contract with Fifth Street Gaming incorporates letting out and managing the hotel-casino.
Schorr stated that the supervision of Gold Spike casino functions is a normal process, as it will now be merged into Downtown3rd. A considerable amount of money has already been spent to improve the technical know-how and gain experience. Due to acquaintance of the customers with the representatives of Siegel group, it will prove to be beneficial for the Fifth Street Company. Schorr hopes the profits from gaming to rise next year in downtown Las Vegas and North Las Vegas markets. There was a 2.5% rise in profits in downtown till the end of fiscal year in June while it remained smooth in North Las Vegas in contrast to previous fiscal year.
While expressing his thrill to move to downtown, he referred to other firms such as Zappos.com which are also shifting there.
Other casinos which run under Fifth Street gaming group are the Little Macau Ultra Tavern in Las Vegas and Silver Nugget Casino, Lucky Club Casino and Hotel, Opera House Saloon and Casino in North Las Vegas. The Siegel Group possesses numerous neighboring boutique hotels and residential compartments and buildings.
Expressing his eagerness for his company’s casinos union with Fifth Street Gaming, the senior Vice President of the Siegel Group-Michael Crandall stated that they are hopeful about good work that will be done by Seth and his group by offering a unique gaming experience to the clients. Long-term operational association is expected by Crandall.
There is another Downtown3rd project with the Fifth Street Gaming. Under this project, 18 bars and restaurants will be incorporated on Third Street amid Ogden Avenue and Stewart Avenue plus the adjoining downtown areas.
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