Two longtime downtown Henderson locals casinos will be sold to a Las Vegas-based company that has 45 properties in three states.

The Emerald Island Casino and Rainbow Club Casino will be sold to an affiliate of ECL Hospitality Management, LLC, owned by businessmen Ron Winchell and Marc Falcone.

Terms of the deal were not disclosed. The transaction is expected to be reviewed by Nevada gaming regulators in December and close in January.

Boulder Highway Gaming LLC, and Water Street Gaming LLC announced the sale Monday and current owner Tim Brooks is expected to continue to oversee the property.

“This sale was a hard decision to make as we have invested so much time and energy into both properties over the years — most importantly our customers and employees have become our family,” Brooks said in an emailed statement.