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Downtown Las Vegas hotel-casino seeks buyer

Downtown Las Vegas hotel-casino seeks buyer
The Downtown Grand Hotel and Casino, as seen on Friday, Dec. 15, 2023, in Las Vegas. The Downto ...
The Downtown Grand Hotel and Casino, as seen on Friday, Dec. 15, 2023, in Las Vegas. The Downtown Grand Hotel and Casino celebrated its 10th anniversary in October. (Daniel Pearson/Las Vegas Review-Journal)
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By McKenna Ross Las Vegas Review-Journal
July 9, 2024 - 4:14 pm
 
Updated July 10, 2024 - 7:11 pm

A downtown Las Vegas hotel-casino is looking for a buyer.

Downtown Grand, the 1,124-room property one block north of the Fremont Street pedestrian mall, is on the market, multiple industry sources confirmed. The property is owned by real estate investment firm CIM Group and operated by Fifth Street Gaming, a Las Vegas-based operator whose portfolio includes the Silver Nugget and Ojos Locos Sports Cantina and Casino in North Las Vegas and the Golden Tiki restaurant in Chinatown.

Fifth Street Gaming and the property’s agent, through New York-based firm Berkadia, did not respond to multiple requests for comment Tuesday. No listing price was available.

Downtown Grand opened in October 2013, transforming the former Lady Luck casino located at Third Street and Ogden Avenue after years closed. CIM Group purchased the property in 2007 and spent “north of $200 million” to acquire and renovate the building over several years.

It added a third hotel tower in 2020, making it among the largest hotels in the downtown area.

Contact McKenna Ross at mross@reviewjournal.com. Follow @mckenna_ross_ on X.

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