Rebranding the Eldorado: New owner modernizing popular landmark on Water Street

The Eldorado, which has remained shuttered since the government mandated coronavirus closure in March, is undergoing renovations in downtown Henderson, Friday, Feb. 5, 2021.

In the side parking lot of the old Eldorado Casino site in Henderson’s Water Street District lay what’s left of the sign that used to hang on the back entrance of the property.

New ownership is modernizing the building in a $5 million renovation, and that starts by sprucing up the exterior with a new blue and yellow paint job, landscaping and signage.

The casino, closed since last March because of the pandemic, will eventually reopen under new ownership. It was purchased from Boyd Gaming in December by DeSimone Gaming, which also owns Railroad Pass in Henderson.

Eldorado Casino Becoming 'The Pass'

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The modernization will come with another significant change — the property will be renamed The Pass when it reopens. They anticipate a spring opening, pending approval from the Nevada Gaming Control Board.

The new name is a nod to a cross-pollination marketing effort with Railroad Pass, but also an effort to stand apart since an assortment of other casinos around the country, including one in Reno, already claim the Eldorado name.

“As Boyd said in its press release when the sale was announced, the (Eldorado) was a nonessential asset for Boyd, but it’s going to be a very essential asset for me,” said Joe DeSimone, the company’s owner and operator.

It is eerily quiet at the shuttered property, which opened in 1961 and is a favorite of longtime Henderson residents, on this afternoon as owner DeSimone walks through. 

He points to a bay of outdated slot machines and says they will be replaced. He looks over blueprints showing more changes, including an $800,000 sports book upgrade and new banquet room. They will also bring back table games to become the only downtown Henderson property with a casino pit.

The new offerings include an “upscale” Italian restaurant and a 24-hour café that will be named after his daughter, Emelia.

There were be a shuttle taking patrons between the two properties, which are about seven miles apart. They will also share the same rewards club.

“It’s going to be busy in here all hours of the day once we open,” he said. “That’s the goal. It’s going to be fun.”

The building is wedged between the new Lifeguard Arena — headquarters for the minor league Henderson Silver Knights — and the Rainbow Club casino. The arena will also host youth hockey events to bring many visitors to the area, some of whom will stumble into the property.

That’s especially true because just steps away from the arena is a 500-space parking garage that came with the transaction of the casino. DeSimone doesn’t plan to charge casino patrons to park.

“Having the Eldorado property reopened is only going to reinvigorate that area and play off the arena,” said Michelle Romero, a Henderson councilwoman whose district encompasses Water Street.

Future upgrades could include a hotel tower, which would give the property the lone hotel rooms in downtown. It would be perfect for families in town for youth hockey at the arena.

“Depending on the needs downtown, that could be an option,” DeSimone said. “People are spending money down here, and I think that’s only going to continue. There’s momentum here.”

A real estate developer by trade — he owns First Federal Realty in Henderson — DeSimone said he took an immediate liking to the casino industry after purchasing Railroad Pass from MGM Resorts International in 2015.

He rattles off names of some of the most well-known executives in Las Vegas gaming — Kirk Kerkorian, Sheldon Adelson and new Las Vegas Sands CEO Rob Goldstein — and says they give him inspiration.

He lauded companies like Boyd and MGM, saying “Nevada should be proud to have them,” but said an independent casino operator can sometimes bring a certain hands-on mentality that a big company might not be able to. That’s how he operates his properties.

“Those are wonderful companies to deal with,” DeSimone said. “But having a small-businessperson, with the flexibility and capital and motivation necessary to liven up a place, that makes sense. We don’t have the overhead or obligations that a Strip hotel has. I try to talk to my employees at Railroad Pass every day, and I listen to them.”

Soon, new signs will be hung outside the building to further usher in a new era. DeSimone is confident it will remain a locals favorite, calling his plans a perfect fit for Water Street. 

“The entire deal with The Pass feels really good,” he said. “It feels like it did when I bought Railroad Pass, and that’s worked out really well. Ten or 15 years ago, I wouldn’t have thought I’d be a casino owner, but gaming is great. I love it.”

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