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Nevada Casino Opens For One Day To Keep Gaming License

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The Silver Club Casino in Nevada is one of the facilities that has been having trouble since the economic collapse in the US occurred. This week, the casino accomplished two major goals. The casino was sold, and it also stayed open long enough to keep its gaming license.

On Tuesday, the Silver Club opened its doors to customers for eight hours. A casino in Nevada is required to open for eight hours at least once a quarter in order to keep their license. That was followed up with the casino's sale on Wednesday.

At an auction in Reno, the casino was sold to its lenders. Northern Nevada Asset Holdings LLC of Colorado Springs, Colorado, was the only bidder for the casino. They paid $2.5 million for the Silver Club, and now they may look to re-open the casinos' doors.

"We're evaluating that along with other options," said Tom Reinhard, manager of NNAH, "That's one of them." Reinhold was speaking after his company acquired the casino outside of the Washoe County Court House in Reno.

The company takes over the casino that was formerly owned by Holder Hospitality. An unrestricted license has been approved, and there is a chance that the casino could be open by April, although Reinhold would not commit to that time frame.

Many Nevada casinos have either closed their doors or have changed hands in the past year. The economy has destroyed what was a once proud casino industry in the state. Experts believe it will not be until 2011 when the industry finally fully recovers from the economic meltdown.

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