The Lakeside Inn and Casino on Lake Tahoe inwards Stateline, Nevada, was sold amid the COVID-19 pandemic.
The Lakeside cassino and resort, erstwhile a favourite hangout among locals, opened back in 1969. It proclaimed its lasting cloture in April 2020 and was sold to Barton Health last yr for $13.4 million.
Barton Health began demolishing the resort hotel this week. The clarification will piss path for a health give care readiness that’s beingness developed based on community feedback and wellness needs.
Barton has gathered input from biotic community stakeholders, partner agencies, and physician and faculty teams for a broader strategical master copy design to accompany the facility contrive as the contrive moves forward,” said Barton Public Information Officer Mindi Befu. “A dual campus strategy will amend office the health guardianship scheme to function the futurity needs of the region and ensure long term viability through and through improved access to services, efficiencies, and state-of-the-art technology and facilities.”
Barton’s Lakeside purchase includes the casino and the VIII acres of shore the resort sits on at the corner of Kahle Drive and US Highway 50.
Gaming Rebound
Lakeside’s owners claimed they were forced to sell the gambling casino after beingness ab initio denied Paycheck Protection Program (PPP) funding through and through the federal government’s Coronavirus, Aid, Relief, and Economic Security (CARES) Act.
Congress and the Small Business Administration, the latter of which mostly administered the CARES Act distributions, later amended the pandemic funding regulations. That go allowed gaming operators to participate. The succour came too belatedly for Lakeside, the property’s owners said.
In March 2021, an auction bridge of the property’s assets raised most $7 million. Items sold included slot machines and tabularise games, furniture, kitchen equipment, power chairs and desks, vehicles, and memorabilia.
Though COVID-19 ended the Lakeside Inn’s more than half-century run, gaming has recovered inwards the South Shore Lake Tahoe market.
According to the Silver State Gaming Control Board (NGCB), 144 gaming revenue utmost yr inward Stephen A. Douglas County totaled $250 million. In 2019, South Shore Lake Tahoe casinos won $231.2 jillion — 8% less than inwards 2021.
End of an Era
The Lakeside Inn opened as a small gaming hall called the Caesars Inn inwards 1969. Three years later, the dimension was acquired by William Harvey Gross, who owned and operated Harvey’s Resort Hotel simply a Swedish mile push down the road. Caesars Inn was renamed Harvey’s Inn in 1972.
After Gross died in 1985, the property was sold to a local grouping of investors who rebranded it to Lakeside. Since then, the gambling casino and resort hotel has been a locals go-to patch for nutrient and drinks paired with some gambling.
The Lakeside’s roughly 18,000-square-foot gaming level housed nigh 300 one-armed bandit machines and a fistful of tabular array games. a run and sportsbook also operated on the premises.
The attribute deteriorated over the years, with its 123-room hotel struggling to pull visitors inwards recent memory.