With an estimated price tag from $40 million to $50 million for the 548-acres, park officials are offering the Nevada government first look at the property.

If a public buyout occurs, this summer will be the Nevada park's last season. The park attracts more then 250,000 people between April and October each year.

Government offcials are excited about the prospects in converting the amusement park into a regional park.

If the public buyout should fall through however, it could be sold off to a new owner and new hotels and motels could be built on the property.

Opened in 1967, The Ponderosa Ranch amusement park is based off the NBC Western series "Bonanza," which ran from 1959 to 1973.

Read more at USA Today.