Fertitta Entertainment to acquire Hard Rock Lake Tahoe

The company will transform the Nevada hotel-casino into a Golden Nugget-branded casino.

US.- Fertitta Entertainment, the company controlled by Golden Nugget owner Tilman Fertitta will acquire Hard Rock Lake Tahoe from Paragon Gaming for an undisclosed price. Hard Rock Lake Tahoe will be rebranded into a Golden Nugget casino.

Fertitta owns five Golden Nugget casinos in downtown Las Vegas, Laughlin, Louisiana, Mississippi and Atlantic City and has plans to rebrand a recently acquired casino in Colorado.

He said: “We are thrilled to be welcoming the Lake Tahoe property to the Golden Nugget family. This acquisition represents a significant opportunity for us to expand our footprint into the Northern Nevada marketplace.”

The Nevada Gaming Control Board will need to sign off on the transaction. Taking into account regulatory approvals and other closing conditions, it could be seven to 12 months before Fertitta owns Hard Rock Lake Tahoe.

The 539-room property covers 24 acres and is one of four hotel-casinos in the South Lake Tahoe market. The property sits across from the long-planned $80m Tahoe South Events Center, a 132,000-square-foot facility being constructed at the corner of US Highway 50 and Lake Parkway. That venue is set to provide a location to host conferences, sports tournaments and concerts with a capacity of up to 6,000 attendees. 

Diana Bennett, CEO of Paragon Gaming, said: “We have had an incredible run over the last seven years in Lake Tahoe and couldn’t be more excited for what the future holds for our amazing team members. It’s been a privilege to own this historic property and we look forward to seeing the next chapter under the guidance of Fertitta Entertainment.”

See also: Fertitta’s casino-hotel project on Las Vegas Strip gets green light