Holland & Hart LLP represented Marnell Gaming, LLC (Marnell), a Hotel/Casino owner/operator and provider of consulting, project management, and development for hotel and gaming properties, on its acquisition of Prospector Hotel and Gambling Hall (Prospector), an establishment providing a wide range of amenities including a 24-hour casino, in Ely, Nevada. The transaction closed following approval by the Nevada Gaming Commission on November 5, 2024.
The acquisition of Prospector, a well-established property with a loyal customer base and significant historic value due to its location, was effected through a newly formed entity, Terzetto, LLC. Located on 12 acres, the Prospector has 60 hotel rooms, 138 slot machines, a William Hill sports-betting kiosk, one restaurant, and a bar. Marnell is evaluating plans to add 60 to 90 hotel rooms, 20 to 30 slot machines, and expand the bar. The acquisition leverages Marnell's expertise in hospitality management and innovative gaming solutions to further enhance the guest experience and drive profitability.
The Holland & Hart transactional team was led by corporate partner Todd Criger, and included assistance from Michael Crisostomo, Matt Shell, Tori Osler, Sloane Dreyer, Christopher Gunlikson, John Ludlum, Lindsay Silber, Rich Spilde, Adam Cohen, Conrad Kranz, and Dora Lane.
Holland & Hart’s Corporate attorneys have extensive experience representing clients at all stages of development, from start-ups to large public companies in a diverse range of industries on mergers and acquisitions.