Stockman’s Casino in Fallon, Nevada, has been sold by its current owners, Full House Casinos.
The buyers are Las Vegas-based Clarity Gaming, co-owned by Michael Gaughan III, son of South Point Casino owner Michael Gaughan. Clarity paid $9.2 million for the casino and the land under it.
Stockman’s is the largest of the five gambling venues in Fallon, a small city in northwest Nevada. This will be Gaughan and Ross’ third privately owned casino as a partnership, but their first in Nevada.
Both worked for the elder Gaughan for many years, including as executives at the Rampart Casino in Summerlin.
“We are pleased to announce the sale of Stockman’s Casino to Michael Gaughan III, David Ross, and the rest of their team,” said Daniel R. Lee, president and CEO of Full House Resorts, in a statement.
“As we have continued to grow in size, we find it prudent to focus on our larger properties in our portfolio, including our newly-opened Chamonix and American Place casinos. We are proud of our transformation of Stockman’s Casino over the years, and know that Michael and David will drive continued improvement under their ownership.”
The Casino and Full House
Stockman’s Casino has a 10,000-square-foot gambling hall, with more than 100 slots. It is the only casino in Fallon that has permanent table games and slot machines. It also has a sportsbook and bar, featuring betting booths operated by William Hill.
The casino features two restaurants, Three Sister’s Steakhouse for a full dining experience, and the Stockman’s Cafe for a more traditional, lower-budget option. The nearest big casino competitors are Bonanza Casino and the Fallon Nugget.
Clarity Gaming will take full ownership of the Stockman’s property when this deal completes in late 2024. Until then, Full House Resorts will pay Clarity $50,000 a month rent to operate the property on a temporary basis.
Clarity is paying $7 million for the casino itself and $2.2 million for the land underneath it. The casino is not to be confused with Stockmen’s Casino in Elko, Nevada, some 200 miles away.
The New Owners
Last year, Gaughan and Lee purchased two casinos in Cripple Creek, Colorado, under the Rocky Mountain Gaming banner. Johnny Nolon’s and Colorado Grande Casino were acquired on December 13, 2023.
Although the new purchase is under a different company, the pair’s acquisition of Stockman’s Casino brings their number of casinos to three.
Meanwhile, Summerlin, Nevada’s Full House Casinos is divesting many of its smaller properties to focus on its two flagship casinos.
It owns the newly-built Chamonix, which is the biggest and widely-regarded as the most upscale casino resort in the fast-growing gambling town of Cripple Creek, Colorado. American Place in Waukegan, Illinois, is currently operating as a temporary casino while Full House finishes building a large, permanent venue.
Over the coming years, both casinos are predicted to bring in revenues well above that of a small-scale venue like Stockman’s.
David is an online casino expert who specializes in online slots and boasts over 10 years experience writing about iGaming. He has written for a wide range of notable publications, including eSports Insider and WordPlay Magazine.
David graduated Derby University with a BA Degree in English Literature and Creative Writing.
