The cost of acquisition and renovation was $65 million. The Herbsts demolished the building interior, but kept its outer shell. The hotel was sold to E-T-T Gaming, the Herbsts' gaming division (now Affinity Gaming), in November 1999. The Herbst family of Terrible Herbst saw an opportunity to open their first gaming property in Las Vegas, as the Continental was too small for locals casino operators Station Casinos and Coast Casinos, but too big for other, smaller slot route operators to acquire.
The Continental itself declared bankruptcy in 1998, and was foreclosed on and closed by American Realty Trust in March 1999. But that deal fell through when Crowne fell into bankruptcy. They planned to convert the property into a nostalgia-themed resort to complement their "Back to the 50s" catalog business. In 1996, Crowne Ventures agreed to buy the hotel for $35 million. The Continental Hotel and Casino opened in 1981. Silver Sevens was the host hotel for the Terrible's special events: The Terrible's 250, Terrible's 300, and Terrible's Cup Baja races sponsored by Terrible Herbst. Silver Sevens Hotel and Casino (formerly known as Terrible's) is a Las Vegas locals casino and hotel 1 mile (1.6 km) east of the Las Vegas Strip, in Paradise, Nevada. The preferred airport for Silver Sevens Hotel & Casino is Las Vegas, NV (LAS-McCarran Intl.).Casino hotel in Nevada, United States Silver Sevens Hotel and Casino Boulder City, NV (BLD-Boulder City Municipal) - 37.3 km / 23.2 mi.Henderson, NV (HSH-Henderson Executive) - 20.7 km / 12.9 mi.
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