Silver Club Casino in Nevada sold for at auction

AP News
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Posted: Dec 24, 2009 10:27 AM

The Silver Club Casino in Sparks sold for $2.5 million at a foreclosure auction on the steps of the Washoe County Courthouse.

Northern Nevada Asset Holdings, which held the mortgage note on the property, was the only bidder at the auction Wednesday.

Holder Hospitality Group had owned the Silver Club and filed for Chapter 11 bankruptcy protection in June. Northern Nevada Asset Holdings acquired the $33 million note on the Silver Club and other casino properties owned by Holder in the state.

Three casinos in Elko County _ Stockman's Hotel & Casino, Commercial Casino and the Scoreboard _ are scheduled to be auctioned Jan. 13.

Northern Nevada Asset Holdings is expected to be the successful bidder on those properties as well.