Hard Rock Lake Tahoe Could Become Golden Nugget in September

On Wednesday, the Sagebrush State Gaming Control Board (NGCB) sanctioned the antecedently proclaimed sales agreement of the Hard John Rock Hotel & Casino Lake Tahoe by Paragon Gaming to Tilman Fertitta’s Fertitta Entertainment Inc.

Clearing that regulatory hurdle paves the right smart for the transaction, announced inwards March, to potentially snug before the final stage of this month and for a rebrand to Golden Nugget to perhaps occur as soon as September. Fertitta Entertainment controls the Golden Nugget casino empire. Financial terms of the purchase weren’t disclosed.

We’ve always liked the Tahoe market and we saw this as a outstanding opportunity,” Fertitta told NGCB members at a Midweek meeting.

NGCB Chairman Kirk Hendricks said the diligence unconscious process was speedy and smooth. That may have been helped past Feritta already controlling some gaming venues inwards Battle Born State and beingness known to regulators.

Big Changes Coming at Soon-to-Be Golden Nugget

The locale will follow the tertiary Golden Nugget inwards Nevada, connection i in downtown Las Vegas and another in Laughlin. Other properties presence that nominate are set in Atlantic City, NJ, Lake Charles, La., and Biloxi, Miss. a of late acquired cassino hotel inwards Cripple Creek, Colo. will likely follow transitioned to Golden Nugget branding, and the operator lately bust run aground on a unexampled venue in Illinois.

Fertitta is promising handsome changes at his company’s first-class honours degree attribute in Northern Nevada, telling regulators that all of the venue’s guestrooms will live enhanced and that new dining options testament live added. In what’s potential to be salutary tidings for the local economy, he told the NGCB faculty counting at the gambling casino hotel could growth 30% to 40% inward the years ahead.

“We testament accept this belongings and totally metamorphose it, as we always do,” Fertitta told the NGCB. “If the Golden Nugget figure is on it, we expect it to be single of the pinch properties inward the market.”

Las Vegas-based Paragon Gaming rebranded the Lake Tahoe belongings to Hard Rock inward Jan 2015, licensing that gens from the Seminole Tribe of Florida. The locus opened inwards 1965 as Sahara Desert Tahoe. The make changed to High Sierra inward 1983, and inwards 1990, the gens was altered to Horizon Lake Tahoe.

Stateline Epicenter of Gaming Industry M&A Activity

To live precise, the soon-to-be Golden Nugget is situated in Stateline, Nev. For industry and land regulatory purposes, that’s considered piece of the Reno-Lake Tahoe market, and while that region pales inwards comparison to Las Vegas in terms of revenue and visitation, it’s been a hotbed of mergers and acquisitions activity inwards recent years.

As reported past Kurt Hildebrand of the Record-Courier, every major gaming venue inward Stateline has experient a alter inward ownership o'er the past tense three years.

Harrah’s and Harveys combined as component part of the 2020 merger 'tween Eldorado Resorts and Caesars Entertainment. In relation to its acquisition of “old Caesars,” Eldorado also divested the gambling casino resort formerly known as Mont Bleu. Bally’s bought that venue and applied its nominate to it inwards 2021.

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