Historic Binion Ranch in Pahrump sells for $1M

After several years on the market, the infamous Binion Ranch has been sold.

Ralph L. and Betty L. McKnight through a family are listed as the buyer of the 138-acre parcel, which sold for $1 million on Nov. 9. The purchase price is below the appraised price of $2.4 million.

The McKnights, who own several parcels in town, have had their eye on the property, which was originally constructed in 1959, for some time now.

“Oh yeah, I’ve been looking at it for awhile,” Ralph McKnight said. “I own a lot of property up there.”

McKnight said he has some plans for the property but nothing is set in stone as of yet.

“Right now there’s enough with that plant up there that I want to be sure that every ‘i’ is dotted and ‘t’ is crossed,” he said.

Also, McKnight explained that he wants to run the plans across Jack Binion, the son of Benny Binion, the casino founder of the Horseshoe in Las Vegas, and the brother of Ted Binion. Ted Binion was killed and had a $300,000 antique coin and currency collection stolen from a vault in Pahrump.

“I know Jack (Binion) pretty well and I want him as comfortable as he can be (with the plans),” McKnight said. “So these are the people I’ve known for some time, we’re not buddies and anything like that.”

Aside from working with the Binion family, McKnight is in talks with county officials and others about the future of the ranch.

“We have some plans for it,” McKnight said. “There are still some things I want to go over with the city on and see what they’ve got in mind.”

McKnight said that he has several parties who are interested in doing something with the property and he’s working with them now to figure out what’s going to be done.

“I’ve got 10 guys who want it and who want to put things on it,” McKnight said. “It’s going to be something up there, I don’t know what.”

McKnight said that the value they got in the property is nothing compared to what it could be worth after the proposed plans for the parcel go through.

“Well, I don’t want to say, but the stuff that’s going on it is going to make it worth a lot of money,” he said.

Local real estate agent Norma Jean Opatik, who had the property listed for about the last two years for the Binions, said she had several close sales on the property before, but those fell through each time.

“I had several escrows open on it, but people just did not come through with their financing,” Opatik said.

“I had to do what the seller wanted done,” she said. “They accepted it, so we had to accept it. It was certainly sold under market, but that’s what the sellers wanted to do.”

With the parcel being sold to the McKnights, and not knowing the exact plans for the ranch, Opatik said she was glad to be included in the selling of the historic property, but wished it could have been purchased by the town of Pahrump.

“I was hoping that the town would have picked it up, but they couldn’t see their way clear evidently,” she said. “I would have liked to see it stay within the town. We were proud to be part of it, I just hated to see the Binion property not stay within the town.”

Nye County officials voted down the idea of purchasing the property for $1.75 million during a July 2015 board meeting.

Contact reporter Mick Akers at makers@pvtimes.com. Follow @mickakers on Twitter.

ad-high_impact_4
Local
Downtown Summerlin hosts its annual Festival of Arts
People crowd to Downtown Summerlin for the 23rd annual Summerlin Festival of Arts in Las Vegas, Sunday, Oct. 14, 2018. (Caroline Brehman/Las Vegas Review-Journal)
Clark County educators debate alternative grading systems
Spring Valley High School principal Tam Larnerd, Spring Valley High School IB coordinator Tony Gebbia and retired high school teacher Joyce O'Day discuss alternative grading systems. (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
Grandparents on the fire that killed three family members
Charles and Doris Smith talk about the night an apartment fire took the lives of three of their family members. (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
New York artist Bobby Jacobs donated a sculpture to the Las Vegas Healing Garden
Bobby Jacobs, an artist from upstate New York, has spent much of the past year creating a sculpture of two separate angel wings. He donated the sculpture to the Las Vegas Healing Garden. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye
Weather will cool slightly through the end of the week
The weather will cool slightly through the end of the week., but highs are still expected to be slightly above normal for this year. (Bizuayehu Tesfaye/Las Vegas Review-Journal) @bizutesfaye
Mayor announces new public-private partnership
Mayor Carolyn Goodman announced the creation of the Mayor’s Fund for Las Vegas LIFE, a public-private partnership that will allocate money to the city’s neediest.
Fremont9 opens downtown
Fremont9 apartment complex has opened in downtown Las Vegas. (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
Fall fairytale gets cozy at Bellagio Conservatory
Bellagio Conservatory introduces its fall-themed garden titled "Falling Asleep." (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
What the house that Ted Binion died in looks like today
Casino heir Ted Binion died in this Las Vegas home in 1998. Current home owner Jane Popple spent over $600,000 to restore and modernize the home. (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
Rescue Mission employees terminated
Don James, a former employee for the Las Vegas Rescue Mission, talks about the day his team was terminated. (Erik Verduzco/Las Vegas Review-Journal)
Raiders Cupcakes at Freed's Bakery
Freed's Bakery will have Raiders-themed cupcakes available in store and for order during football season. (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
51s fans say goodbye to Cashman Field
Las Vegas 51s fans said goodbye to Cashman Field in Las Vegas, Monday September, 3, 2018. (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
51s owner Don Logan's last weekend at Cashman Field
Don Logan, owner of the Las Vegas 51s, gives a tour of Cashman Field before the team's final weekend using the field. (Marcus Villagran/Las Vegas Review-Journal) @marcusvillagran
Metro Asst. Sheriff Brett Zimmerman on Aug. 8 officer-involved shooting
Metropolitan Police Department Assistant Sheriff Brett Zimmerman met with media Monday to discuss the details of the 14th officer-involved shooting of the year. (Madelyn Reese/ Las Vegas Review-Journal)
Matt Kelly Elementary School hosted its third annual Back-to-School Red Carpet Program
Matt Kelly Elementary School hosted its third annual Back-to-School Red Carpet Program where community and business leaders joined to welcome students back with an inspirational welcome. Bizuayehu Tesfaye/Las Vegas Review-Journal @bizutesfaye
Star Trek fans on show’s enduring popularity
Star Trek fans at the Star Trek Convention 2018 talk about why they think the show has stayed popular across the years Thursday, August 2, 2018. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
Nonprofit provides clothing for homeless
Sydney Grover of Can You Spare A Story?, talks about how she founded the non-profit organization. (Marcus Villagran/Las Vegas Review-Journal)
Family remembers deceased mother
Family members of Adriann Gallegos remember her. (Marcus Villagran/Las Vegas Review-Journal) @brokejournalist
TOP NEWS
News Headlines
Add Event
Home Front Page Footer Listing
Circular
You May Like

You May Like