The Nevada Gaming Control Board has signed off on Las Vegas-based Clarity Game to take over the operations of Stockman’s Casino in Fallon east of Reno. Clarity purchased Stockman’s from Full House Resorts last September for $9.2 million.
Clarity owns the property and currently leases the casino to Full House for $50,000 a month until it is licensed to operate the property. The Nevada Gaming Commission will have final approval on March 27.
Clarity Game is primarily owned by gaming executives Michael Gaughan III, son of South Point Resort & Casino owner Michael Gaughan, and David Ross, who worked for the elder Gaughan. The duo, which have 46% ownership stakes, were part of a group that acquired two casinos in Colorado. The Michael J. Gaughan Family was listed in the application as a lender for the transaction.
Ross and Gaughan are joined by longtime sports gaming executive Joe Asher; he and Stephen Harris each have 4% ownership stakes.
The group paid $7 million for the property and $2.2 million for the casino operations. The 8,000-square-foot casino has roughly 235 slot machines.
Ross told the Board that everyone currently employed at Stockman’s will retain their jobs. The plans call for a remodel of the property and new slot machines.
“We see future expansion,” Ross said “Fallon is growing. This asset hasn’t performed for Full House, which has been focused on large properties outside Nevada and we’ll bring in products that are working in the market they currently don’t have.” Ross also mentioned that the food and beverage offerings will be revamped to bring a higher quality.
Like the South Point model, the plan calls for leveraging the players club and providing value to customers.
“They appear to have lost customers, and we need to regain trust by providing that value,” Ross said. “It will start with the database and immersing ourselves in the community.”
Full House ran table games on a weekend-basis only given the light demand, Ross said. There’s no longer any keno. There’s a William Hill kiosk, but Clarity plans to explore other sports betting opportunities. “We think it’s a great market for (sports),” Ross said. “Mr. Gaughan is legendary for that, and I’m involved with the Rampart Casino and we tie into the South Point currently.”
Board member George Assad said he appreciated the investment in Northern Nevada and cited the Gaughan involvement as a model to follow given the success at the South Point.
Michael Gaughan III, whose grandfather Jackie was a pioneer in the Nevada gaming industry, went through the licensing process without any issues.
The initial remodel over the next year will create a better sports betting environment for people to watch games in a traditional sportsbook, Gaughan told the Board.
During his questioning about registration as a minority owner, Asher, who was last licensed in April 2023, told the Board he’s been a fan of rural Nevada and has been to Fallon many times. When he read that Ross was buying the casino, he asked if he could be involved in some way. He’ll be a passive investor.
Asher said he’s been working on some projects and new business venture since his contract with IGT ended in June.
Harris, a former Gaming Board employee, said he’ll also be a passive investor. He thought it would be a great opportunity to get involved with ownership. Like Asher, the Board approved his registration as a minority owner. That action requires approval by the three-member Board only.
