Selling assets
After operating for 35 years in Stateline, Nevada near Lake Tahoe, the Lakeside Inn and Casino has had to call it quits. The COVID-19 pandemic caused the venue’s owners to permanently shutter the casino last year, and now its gaming equipment is up for grabs. An online auction began February 22, with the first items scheduled to end early Thursday and some going until March 6. Slots, table games, and even spare parts are on offer.
unable to overcome the impact of the COVID-19 pandemic
The casino was a prime tourist draw for many years because of its proximity to Lake Tahoe. However, like many businesses, it was unable to overcome the impact of the COVID-19 pandemic. The auction takes place almost a year after the shutdown.
Find room for a craps table
Stremmel Auctions is handling the auction of the items located inside the casino. All items listed were available for preview by appointment leading up to the start of the auction.
Over 2,000 items are included in auction, including poker tables and poker chips. The longest craps table in the state of Nevada, a custom-made piece by the casino owners, is up for sale, as well.
When it comes to the gaming equipment, only licensed distributors and manufacturers, along with licensed properties, can bid. This auction is online only and is a private sale.
Additional auction items
While the gaming equipment is limited to certain bidders, additional items are up for auction to the public. This includes kitchen and bar equipment, artwork, office equipment, vehicles, tools, and memorabilia.
Stremmel has a full list of each item broken down by auction. There are two sections open to the public. Each listing includes the items up for auction, the time frame to bid, and next bid price point.
Lost jobs and community icon
With the closure of the property, over 200 employees lost their jobs. There are still a few people working on site today to assist in maintaining the facility. After the casino closed in March of last year, the owners felt like it would only be a few weeks before it reopened.
not having a clear idea what recovery looked like, it was time to sell”
By April, however, the owners realized the casino needed to close for good. Stacy Noyes talked about how the uncertainty led to the idea to put the property up for sale: “We found out we weren’t eligible for the (paycheck protection program) loans, and not having a clear idea what recovery looked like, it was time to sell.”
Along with job losses, the community has lost a family destination. Many people used Lakeside as their go-to place for lodging on ski trips and family celebrations, even weddings. The community considered Lakeside Inn and Casino a staple and locals visited often.
Louisiana casino closes after COVID-19
As casino closures spread across the United States in March of last year, other venues decided to remain closed permanently. In Louisiana, the DiamondJacks Casino & Hotel in Bossier City decided not to reopen even after it the state gave the go-ahead.
The pandemic created certain “business circumstances,” which led the owners to close. At the time, it was unclear as to how many employees would be affected. Each employee was notified of the closure and was pointed toward unemployment benefits.