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Silver Club casino sells for $2.5 million at auction

Reno Gazette-Journal,  Wednesday, December 23, 2009 at 6:40:52 PM

The historic Silver Club Casino in Sparks was sold for $2.5 million Wednesday at a foreclosure auction on the steps of the Washoe County Courthouse in Reno.

There was no competitive bidding and the only company to offer a bid was Northern Nevada Asset Holdings LLC of Colorado Springs, Colo., which was the mortgage note holder on the Silver Club.

Holder Hospitality Group had owned the Silver Club and filed for Chapter 11 bankruptcy protection in June and Northern Nevada Asset Holdings acquired the $33 million note on the Silver Club and other casino properties. the source
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