Gold Spike Hotel and Casino

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Gold Spike Hotel and Casino
Gold Spike Hotel and Casino.png
Location Las Vegas, Nevada
Address 217 Las Vegas Blvd North
Opening date 1976
Closing date April 2013
No. of rooms 162
Total gaming space 5,820 sq ft (541 m2)
Casino type Land Based
Owner Tony Hsieh
Operating license holder Golden Gaming
Previous names Rendezvous
Years renovated 2008-2010, 2013
Website http://www.goldspike.com/

Gold Spike Hotel and Casino is a boutique 112-room,[1] seven floor hotel-casino, connected with the Oasis at the Gold Spike, a 50-room three floor hotel located in downtown Las Vegas. It was owned by entrepreneur Tony Hsieh and his Downtown Project, having just bought it from The Siegel Group; and the casino was operated by Golden Gaming.

Hsieh closed the casino on April 14, 2013.[2] After a three-week remodel, Gold Spike re-opened as a restaurant and bar on May 6, 2013.[3]

History[edit]

It originally opened in 1976 as the 112-room Rendezvous. In 1983 Jackie Gaughan purchased the property after it had been closed for several months. The Gold Spike for years has been known as an inexpensive hotel with few amenities.[4]

On December 6, 2002, Gaughan agreed to sell the Gold Spike and three other casinos to Barrick Gaming.[5] This sale, along with several other downtown Las Vegas hotel/casinos, was completed in 2004, for a combined total of about $82 million.[6] Barrick Gaming Corp was in partnership with Tamares Group. After the purchase, management discontinued the table games and only offered slot machines. In a few years the property was offered for sale.[7]

Gold Spike shortly after its extensive remodeling in 2009
Remodeling of the bar after its purchase by Hsieh.

On July 23, 2007, Greg Covin bought the property for $15.6 million with the intention of turning it into a boutique hotel.[8]

He sold it on February 4, 2008 for $21 million to The Siegel Group.[9]

The Siegel Group set out to completely renovate the property[10] and combine it with an old and forgotten 52-room motel located next to the property. As one author wrote, the Gold Spike now has "Quartz walls, tile floors, wood accents, and new everything", making it "a very modern boutique hotel in the heart of downtown".[11] The first floor, containing the gaming floor, the bar, and the restaurant, was completely renovated by February 2009.[1]

By April 2010, all guest floors and the exterior of the hotel has been completely remodeled and renovated. In May 2010, the Oasis Pool opened, giving Gold Spike a swimming pool.

In April 2013, it was reported that the property's debt had been acquired by Tony Hsieh's Downtown Project, a campaign to revitalize downtown Las Vegas.[12] Siegel then announced that it had sold the Gold Spike to the Downtown Project, and that the casino would close on April 14.[2] Siegel retained rights to the Gold Spike name,[13] and said that the company needed to dispose of smaller properties on its way to owning larger casinos on the Strip.[2] Hsieh was reported to be considering several ideas for the property, including a boutique hotel, specialty retail space, or a club, but ruled out a casino, saying that he was "trying to help build a community".[13]

Oasis at The Gold Spike[edit]

The adjacent 3-story motel was originally built in 1962 as a 57-room Travel Inn Motel.[14] The property was abandoned, becoming a blight between the Fremont Street Experience and Las Vegas City Hall. The Siegel Group purchased this property in August 2007 for $5 million[10] and started making plans to renovate it and reopen the property. Plans were put on hold when they purchased the neighboring Gold Spike. Finally, by April 2010, the rooms had been completely renovated and renamed "The Oasis at The Gold Spike"[15] and connected to the Gold Spike via an outdoor lounge and walkway.[16] After a reconfiguration of the property, it was left with 50-rooms, which have been modernized and turned into bungalow suites.[17]

The Oasis at the Gold Spike had the distinction of being the only downtown hotel with a Las Vegas Blvd. address.[18] In May 2010, the City of Las Vegas changed the entire Gold Spike property to this address.

References[edit]

  1. ^ a b Hansel, Mark. "The transformation of downtown’s Gold Spike - Las Vegas Sun News". Lasvegassun.com. Retrieved 2013-09-21. 
  2. ^ a b c Benjamin Spillman (April 11, 2013). "Downtown Project buys Gold Spike, casino to close on Sunday". Las Vegas Review-Journal. Retrieved 2012-04-11. 
  3. ^ Jerry Fink. "Joe Downtown: Casino-less Gold Spike opens Monday; old pizza place to get new life - Las Vegas Sun News". Lasvegassun.com. Retrieved 2013-09-21. 
  4. ^ Deiner, John (August 26, 2001). "Four for the money". The Los Angeles Times. 
  5. ^ SEC (December 6, 2002). "Security and Exchange Form 8-K". 
  6. ^ "Company News; Barrick Gaming Paying $31 Million For Nevada Casino". The New York Times. November 11, 2004. 
  7. ^ "Tamares Group touts Gold Spike to buyers as low-cost entry to LV market". Las Vegas Review-Journal. May 4, 2007. 
  8. ^ "Boutique style seen for the Gold Spike". Las Vegas Review-Journal. July 12, 2007. 
  9. ^ "For second time in six months Gold Spike sold". Las Vegas Review-Journal. February 4, 2008. 
  10. ^ a b "New owners bring money, optimism to downtown | Las Vegas Review-Journal". Lvrj.com. 2010-04-04. Retrieved 2013-09-21. 
  11. ^ [1][dead link]
  12. ^ Joe Schoenmann (April 10, 2013). "Joe Downtown: Want a room at the Gold Spike? You might try booking it through Zappos". Las Vegas Sun. Retrieved 2013-04-11. 
  13. ^ a b Joe Schoenmann (April 11, 2013). "Joe Downtown: Downtown Project adds Gold Spike to its property holdings; casino to close Sunday". Las Vegas Sun. Retrieved 2013-04-12. 
  14. ^ "Siegel Group Establishes Las Vegas ‘Boutique Chic Retreats’ Portfolio". hotelbusiness.com. 2010-04-14. Retrieved 2013-09-21. 
  15. ^ "Rumor has it". Las Vegas Weekly. 2010-04-13. Retrieved 2013-09-21. 
  16. ^ [2][dead link]
  17. ^ "The Siegel Group To Open Rumor Hotel In June". Hotelinteractive.com. 2010-04-14. Retrieved 2013-09-21. 
  18. ^ [3][dead link]

External links[edit]

Coordinates: 36°10′15″N 115°08′26″W / 36.1709°N 115.1406°W / 36.1709; -115.1406