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Gaming Today
June 22, 2009

Gold Spike Launches New Sports Book

By GT Staff

The Leroy's Sports Book at the Gold Spike Casino
SIEGEL GROUP’S Steven Siegel, CEO, (left) and Michael Crandall, director of business affairs, helped christen their new Leroy’s sports book last week.

The owners of the Gold Spike in downtown Las Vegas continued their massive renovation as they christened Nevada’s newest sports book, Leroy’s, last week.

The new Leroy’s sports book is the latest renovation from the Siegel Group, which purchased the Gold Spike early last year. Since they’ve taken over, the new owners have completely remodeled the casino floor and restaurant, added a brick-oven pizza parlor, and upgraded the casino’s 300-plus gaming machines, among other things.

Leroy’s is conveniently located next to the casino’s Ushaped bar, which is stocked with Gamblers Bonus bar-top machines from United Coin.

“We’re excited about the changes going on here, and we’re happy with the local following they’ve generated,” said Steven Siegel, the company’s founder and president.

The sports book will feature all the Leroy’s products, including parlay cards, contests and promotions, said John Salerno, Leroy’s general manager.

Salerno added that the sports book will feature betting on all major sporting events, which can be viewed on 25 high-defi nition, flat-screen TVs. There’s also theater seating in a cozy alcove just steps from the betting windows and adjacent to the bar.

In addition, the sports book will be granting drink tickets for a minimum $15 bet, rather than the customary $20 bet required in most downtown sports books.

On the casino floor, all the video poker machines have been adjusted to their loosest levels. For instance, Double Double Bonus Poker games now have pay tables that return more than 99 percent to players.

With all the changes, the Gold Spike has evolved into a clean, comfortable and viable casino in downtown Las Vegas. The loose video poker machines will add to the amenities that are piling up at the casino located at Ogden Avenue and Fourth Street, a block off the Strip and one block north of Fremont Street.

But the Siegel Group hasn’t finished with their upgrades. They’re putting the finishing touches to a renovation of the adjoining motel that flanks Las Vegas Boulevard.

“Within the next 90 days we’ll open the new 50-unit motel, which will feature a complete spa, a pool in the middle of the parking lot, along with an elevated stage for evening concerts,” Siegel said.

The Siegel Group, which operates extended-stay apartments in Las Vegas and Reno, purchased the Gold Spike for $21 million a year ago.

Since then, they invested in other commercial properties, including the Barcelona Casino in North Las Vegas, which they’ve renamed Siegel Suites hotel and casino. That property is also undergoing a massive renovation.

Siegel said he’s cross-promoted the company’s casinos with the rental properties, and vice versa.

“There’s lots of movement from the apartments to the Siegel casinos,” he said. “We’ve also generated apartment business from casinos, such as the World Series of Poker, which is ongoing right now in Las Vegas.”

Overall, Siegel said the company is beginning to meet its goals of creating casinos where locals as well as visitors can come for “good food, good gambling and a fun, safe experience.”