Isn't $1.5m is way much too expensive for a $47k in 6 months average revenue or $94k annual revenue? Or let's just round it off and say it is a $100k a year.
Exactly, it's too much. I don't think they can easily find a buyer for this casino given the time frame on when you can get back the capital you spend to buy it. Well anyway it's their right to sell the casino in their preferred amount. It just depends on their potential buyer if he/she find it reasonable.
I don't think anyone wants to sell a well-run casino.
True. The casino is not a well known too so there might be a real reason behind it that the seller is not disclosing, we'll never know. However, since the op stated the owner has a new business in mind (among with the other reasons), probably he's trying something new.