In the 1940s, the bar was sold to Preston Parkinson, who added the Million Dollar onto the name. Parkinson expanded the bar further. Unfortunately, in 1953 there was a gas explosion in the basement that caused major damages. From his hospital bed, Parkinson vowed to restore everything in the bar. In 1973 three men, Ron Shultz, Bud Jensen and Cliff Pointdexter, bought the bar. These men modernized the bar further.
Art Anderson is an avid western memorabilia collector and the present day owner of the Million Dollar Cowboy Bar. Much of his collection can be admired within the bars authentic decor. Among this decor, animal mounts of timber wolves, grizzly bears, and mountain lions can be admired. The actual bar itself is inlaid with 624 silver dollars, which had to be screwed into the bar in the 80's. Poor cowboys in the 40's and 50's used knives to remove the silver dollars and pocketed the change. The bar offers live country music and old fashioned swing dances 6 nights a week, along with pool tournaments. The bar has a gift shop and a separate steakhouse downstairs.
To some it is just a bar, but to others the Million Dollar Cowboy was a second home. In fact, one of the elderly regulars asked to be cremated and kept at his favorite watering hole. Upstairs in the office, you can find Bob's remains in an old Jack Daniels bottle. Carol Anderson reports that his friends often come in and bring their buddy down to have drinks with him.