Nevada regulator recommends approval of Golden Nugget Lake Tahoe purchase

Final approval of the deal will be decided by the Nevada Gaming Commission.

US.- The Nevada Gaming Control Board has recommended approval of Golden Nugget’s purchase of the Hard Rock Hotel & Casino Lake Tahoe at Stateline. Final approval will be decided by the Nevada Gaming Commission, which is scheduled to meet on August 24.

If the Nevada Gaming Commission approves the transaction, the sale is expected to close on August 25. Attorney Sonia Vermeys, who appeared before the Gaming Control Board said the venue would be renamed Golden Nugget Lake Tahoe Hotel and Casino.

Fertitta Entertainment, the company controlled by Golden Nugget owner Tilman Fertitta, announced a deal to acquire Hard Rock Lake Tahoe from Paragon Gaming in March. 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.

Speaking to Control Board members via Zoom, Fertitta said his company always liked the Lake Tahoe market and expects the Lake Tahoe property to become a market leader. “We truly look forward to having another casino in Nevada,” Fertitta said. “It’s definitely the best place to do business if you’re in the gaming business.”

The transfer will see a complete rebranding that could take two years. “We will take this property and totally transform it, as we always do,” Fertitta said. “If the Golden Nugget name is on it we expect it to be one of the top properties in the market.”

He said he expects the number of employees to increase by 30-40 per cent and to add numerous restaurants. “We will revamp every single room. Basically, when we go in, we touch every square foot of the casino,” Fertitta added.

See also: Nevada Gaming Control Board recommends licences for Rio and Fontainebleau execs