Legendary Jacks Valley Ranch, Once Belonging to Gambling Tycoon, Listed for Sale
Historic Jacks Valley Ranch, nestled near Nevada's Carson City, is up for sale with a whopping price tag of $15 million.
Originating before Nevada was even established, the over 160-year-old, 1,230-acre working cattle ranch was owned by the estate of casino mogul John Ascuaga and his wife, Rose Ascuaga. The latter passed away in 2020, mere days before her 87th birthday, and John himself followed suit the following year at the age of 96.
Upon graduating college, John worked at a lodge in Idaho as a bellhop, which he claimed sparked his interest in the hospitality industry. He later relocated to Sparks and worked at the Nugget Cafe. Ascuaga would eventually acquire this small coffee shop and transform it into one of Northern Nevada's largest casino resorts.
For over five decades, Ascuaga owned and operated John Ascuaga’s Nugget in Sparks, continuously expanding the resort into the vast complex it is today. He sold the casino resort in October 2013.
Jacks Valley Heritage
Ascuaga purchased Jacks Valley Ranch in 1969. Various prominent Nevadans, such as Richard Kirman, the seventh governor of the state, oil tycoon Robert Lytle, and millionaire philanthropist Max Fleischmann of the Fleischmann’s Yeast empire, have also owned the property.
Steeped in history, Jacks Valley was the location for John Wayne's final film - "The Shootist." Known in Hollywood as "The Duke," Wayne is synonymous with Western movies.
During his tenure, Ascuaga conserved a significant portion of the land by placing it under the Nevada Land Trust. The nonprofit assisted Ascuaga in obtaining a conservation easement on 1,169 acres, preventing any additional development.
In 2015, Ascuaga explained, "My aim has always been to preserve the character of Jacks Valley and maintain the ranch as a working ranch."
Jacks Valley Ranch, situated five air miles east of Lake Tahoe and just a short drive from Carson City, served as the family residence of the Ascuagas. John raised his children there, and Stephen and Michonne would eventually work at the Nugget and play key roles in its continuous improvement and administration.
Listing Information
Jacks Valley Ranch boasts four residences, with the main one featuring three bedrooms, two baths and two half-baths, a study, and a two-car attached garage. The 5,428-square-foot home was constructed in 1963.
The three other homes are older, dating back to 1942. Each is a two-bed, one-bath unit. The property has five barns, 737 acres of irrigated pasture, and 4,112 acre-feet of deeded water rights.
Notably, the property has the right to divert the flow of a portion of Jacks Valley Creek for 5.5 days out of each eight-day cycle. The tributaries help sustain natural springs on the property and also recharge the property's water tank.
The ranch also comprises 377 acres of mixed conifer forest and 111 acres of sage and bitterbrush. Jacks Valley Ranch is being listed by Chase International. More details can be found here.
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