Golden Nugget Lake Tahoe in Stateline, Nev. alongside the California border is about for a whole overhaul of the resort on line casino.
Golden Nugget Lake Tahoe will quickly embark on a property-wide renovation of the on line casino resort. The undertaking comes lower than a 12 months after Fertitta Leisure acquired the previous Laborious Rock property from Paragon Gaming. (Picture: Tripadvisor)
Billionaire Tilman Fertitta’s Fertitta Leisure Inc. acquired the previous Laborious Rock Lodge & On line casino Lake Tahoe final 12 months from Paragon Gaming for an undisclosed value. Each entities are privately held.
The 539-room lodge and 25,000-square-foot on line casino resort rebranded to Golden Nugget in September 2023. It marked the eighth on line casino in Fertitta’s Golden Nugget empire to associate with gaming resorts in Las Vegas, Laughlin, Atlantic Metropolis, Biloxi, Louisiana’s Lake Charles, Colorado’s Cripple Creek, and Illinois’ Danville.
Showing earlier than the Nevada Gaming Management Board (NGCB) to obtain the state’s go-ahead to renovate the hotel-casino, Golden Nugget Lake Tahoe Normal Supervisor Jason Sides mentioned “each sq. foot” of the property shall be touched throughout the revamp.
Resort Overhaul
Sides didn’t specify how a lot capital Fertitta Leisure is plowing into the Lake Tahoe property, however it’s presumably tens of tens of millions of {dollars}.
We’ve got large plans for the property with vital capital funding,” Sides defined. “ We’re going to the touch principally each sq. foot of the property.”
Sides’ boss, Mr. Fertitta, informed the identical board after submitting acquisition paperwork in 2023 that he noticed the Laborious Rock property “as a terrific alternative” to increase his on line casino portfolio.
We are going to take this property and completely remodel it,” Fertitta informed the NGCB. “And, as we all the time do, add the Golden Nugget title to it. We count on it to be one of many high properties within the [South Shore Lake Tahoe] market.”
The Golden Nugget Lake Tahoe renovation will see every guestroom revamped. Rooms will stay out there all through the endeavor, although at diminished capability as one lodge tower will stay open whereas the opposite is renovated, and vice versa.
Two new eating places — Mastro’s Steak Home and Saltgrass Steak Home, that are underneath Fertitta’s Landry’s umbrella of hospitality manufacturers, are additionally a part of the resort redo.
The on line casino ground will see inside enhancements and upgrades of the gaming venue’s 500 slot and video poker machines. New desk video games are additionally forthcoming.
Sides says the corporate believes the work will be accomplished by early subsequent 12 months.
South Shore Gaming Market
Together with Golden Nugget, South Shore Lake Tahoe is residence to 3 different casinos — Harvey’s, Harrah’s, and Bally’s. Over the previous 12 months, the 4 casinos received about $248.6 million, a 1.2% year-over-year decline.
Fertitta stays bullish on the Nevada gaming business, because the Lake Tahoe pickup takes his Silver State holdings to 3 together with his downtown Las Vegas and Laughlin Nuggets. Fertitta can also be mulling a brand new, from-the-ground-up built-in resort on the Las Vegas Strip. The on line casino proprietor paid $270 million for six.2 acres of prime property positioned at S. Las Vegas Blvd. and Harmon Avenue in 2022.
After buying the tract, Fertitta had the Travelodge and retail strip mall that occupied the acres demolished.
Along with his spending in Nevada, Fertitta’s group started a serious overhaul of its Atlantic Metropolis Golden Nugget in February that includes all 700 guestrooms being upgraded.