Outstanding Established Seattle Casino For Sale

Business description

The Casino has been established and successful for 12 years. It has an outstanding location on a main arterial with great visibility. There is parking for over 200 cars and it holds over 1000 customers. The current owner is absentee. The casino has 15 tables - 4 Poker and 11 House Branded Games. There are lounges and food service. The food service could be upgraded by the new owner. The business occupies over 20,000 sq ft and could easily accommodate live entertainment and dancing. This is a stock sale and the Seller is selling 90% of the Corporation's stock. The Buyer will have to be approved by the Gaming Commission; which will mean a background check, verification of funds and deposits, and other paperwork. The Seller is offering terms with 50% down over 7 years at 7%. This business needs an owner operator.

Property information

Real Estate:

Lease

Lease terms:

There will be a sub lease for $25,000 per month with NNN charges of $2,000 per month. The lease runs till 12/31/2026.

Leasehold rent:

$300,000 per annum

Location:

The Casino has been established and successful for 12 years. It has an outstanding location on a main arterial with great visibility.

Premises details:

There is parking for over 200 cars and it holds over 1000 customers. The business occupies 20,000 sq ft and is only about 65% utilized. There will be a sub lease for $25,000 per month with NNN charges of $2,000 per month. The lease runs till 12/31/2026.

Size in square feet:

20,000

Other information

Expansion potential:

The current 20,000 sq ft is only being 65% utilized - the new owner could easily add live entertainment and a dance floor. The additional space could be leased out to groups for weddings, parties, meetings, etc. A little updating and painting and this could look like a new casino. Just having an on site owner operator would make a great difference.

Competition / Market:

There are other casinos in the area, however, this one has been established for over 12 years and has a loyal following. It also is one of the oldest ones in the area.

Support & training:

The Seller will provide 2 weeks of training on the day to day operation of the business if it is needed by the Buyer

Reasons for selling:

The Seller is absentee and has other businesses to operate.

Trading hours:

10 AM - 6 PM-10PM - 6AM (Mon – Sun)

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Cash or Bank Financing or Seller Terms with 50% down - 7 year term @ 7%

Furniture / Fixtures value:

$250,000 (included in the asking price)

Inventory / Stock value:

$25,000