EKN Development acquires Tahoe Biltmore Casino for $56.8m

EKN Development Group has acquired Tahoe Biltmore Lodge & Casino.
EKN Development Group has acquired Tahoe Biltmore Lodge & Casino.

The company will continue operating the venue on the Nevada side of Lake Tahoe’s North Shore while finalising plans for further development.

US.- EKN Development Group has acquired Tahoe Biltmore Lodge & Casino at Crystal Bay, in Lake Tahoe, for $56.8m.

EKN will continue operating the 75-year-old hotel and casino located on the Nevada side of Lake Tahoe’s North Shore while finalising plans for further development of the 15-acre site. The resort has 113 rooms and 100 slot games.

EKN CEO Ebbie Khan Nakhjavani said: “EKN Development Group is extremely pleased to add this development opportunity in North Lake Tahoe to our portfolio.

“The design of this project will introduce an unparalleled hospitality experience that will accentuate Lake Tahoe’s natural scenery and beauty, while embracing the distinctive and pristine characteristics of the region.”

EKN acquired the property from Boulder Bay LLC. Originally established as the Tahoe Biltmore in 1946, the venue has had many different names over the years, including the Nevada Lodge, Cal-Neva Biltmore and then back to the Tahoe Biltmore in 1984.

See also: Nevada Gaming Commission names Kieckhefer and Togliatti as new members

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Lake Tahoe land-based casino Mergers & Acquisitions Nevada