Additionally, the Golden Nugget brand has been enjoying recognition and a good name for years, so many people are optimistic this could be a good move for the market in the region.Īlthough this is the first step for Fertitta Entertainment in this region, the operator also has two more Golden Nugget establishments in the state of Nevada – one is in Laughlin, and the other is in Las Vegas.
He is a well-known businessman, a billionaire, and a TV personality. Tilman Fertitta’s name is hugely popular in the industry, and for good reason. Fertitta’s Track Record Inspires Confidence However, Nevada’s regulators still need to approve the purchase, and regular transaction conditions still need to be met, before it can begin its new journey. Hard Rock Lake Tahoe is one of four hotel-casinos in the South Lake Tahoe gaming market and sits across Bally’s Lake Tahoe. It’s a 539-room casino hotel that sits on 24 acres of land, with 25,000 square feet dedicated to the casino. It also contained words from Paragon Gaming’s chief executive officer – Diana Bennett – who said the company was looking forward to seeing what the future holds for this historic property. However, Tahoe Daily Tribune’s report outlined Fertitta’s excitement about the prospect, and it made clear that the remodeling plan will be put into motion as soon as possible. No further details were mentioned about a possible date for the remodeling. Taking into account regulatory approvals and other closing conditions, it should be seven to 12 months before Fertitta officially owns Hard Rock Lake Tahoe. New Life for Hard Rock Lake TahoeĪlthough the price isn’t yet disclosed, the announcement contained approximate transaction completion dates. The property was last remodeled in 2015 when Paragon licensed the Hard Rock name from the Seminole Indian Tribe.
Following the transaction’s completion, there are plans to remodel Hard Rock Lake Tahoe into a Golden Nugget, expanding the company’s presence in the Northern Nevada market. Tilman Fertitta’s company owns five Golden Nugget Hotel and Casino properties.
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