Stockman’s Casino in Fallon will have a new operator after the Nevada Gaming Commission Thursday approved Clarity Game to take it over from Full House Resorts.
Clarity acquired the property in September for $9.2 million and leased it to Full House for $50,000 a month until it got approval from the Commission. The plan is to take over operations at midnight Monday.
Clarity Game is primarily owned by gaming executives Michael Gaughan III, son of South Point Resort & Casino owner Michael Gaughan, and David Ross, who once worked for the elder Gaughan. Longtime sports gaming executive Joe Asher has a 4% share.
Clarity paid $7 million for the property and $2.2 million for the casino operations. The 8,000-square-foot casino has more than with 235 slot machines.
Ross told the Commission he and Gaughan have started their own gaming company and acquired two casinos in Colorado.
“We chose Fallon for a reason,” Ross said. “We’d just purchased casinos next to Full House’s large development in Cripple Creek when this wonderful opportunity came. We think we have the best opportunity in Fallon in building and asset land.”
Clarity plans to change out 40%-50% of the slot machines this year and remodel the casino with new carpet and paint. Most of the machines are more than 20 years old, making the property uncompetitive, Ross said. The plan is to bring in a mix of products.
“We’re bullish on northern Nevada,” Ross said. “For us, it was an opportunity to get in and follow Mike’s father’s footsteps. I feel like Mike and I received a PhD from one of the masters in gaming, Michael Gaughan. And I got to learn under his grandfather Jackie Gaughan.”
Full House eliminated table games in January. Keno and table games have had negative cash flow the last couple of years, Ross said. “For us, it was a business decision” not to bring them back.
Ross said at some point the sportsbook will be tied into the South Point in Las Vegas to do risk management. Currently, William Hill has a kiosk at the property.
The steakhouse at the property is closed, because there wasn’t enough volume, Ross said. The plan is to install a sports bar.
“Great food and great employees are what separate us,” Ross said.
Commissioner Brian Krolicki, a northern Nevada resident, called it a wonderful project for Fallon. He said it’s a “tired property” and needs renovation and is glad to see new expertise applied to rural Nevada.
Commission Abbi Silver said it’s a great opportunity for Fallon and a for that city.
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