The Hard Rock Hotel and Casino in Stateline, Nevada is set to become the Golden Nugget Lake Tahoe Hotel and Casino later this month as mogul Tilman Fertitta’s brand readies for expansion. The sale of the Hard Rock property is expected to close on August 25, pending approval by the Nevada Gaming Commission at its August 24 meeting.
Earlier in March, Tilman Fertitta, President of the Golden Nugget casino brand and owner of the NBA’s Houston Rockets, had announced that his company had purchased the 539-room Hard Rock Lake Tahoe in a cash deal for an undisclosed price. Fertitta Entertainment controls casino properties in downtown Las Vegas, Laughlin, and Lake Charles, Louisiana; Biloxi, Mississippi; Atlantic City; and Cripple Creek, Colorado.
On Wednesday, the deal cleared a major hurdle after the Nevada Gaming Control Board recommended approval of licensing for executives with Golden Landry’s LLC and GN NV Holdings to operate the Golden Nugget Lake Tahoe. The property is located across Highway 50 from the Tahoe Blue Event Center, which is in the final stages of construction.
Tilman Fertitta
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, Las Vegas Review-Journal reported. “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 place over the next 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 also noted that he expects the number of employees to increase by 30-40% and add numerous restaurants. “We will revamp every single room. Basically, when we go in, we touch every square foot of the casino,” Fertitta added.
The company is currently modifying the Wildwood Casino in Cripple Creek, and developing a property in Danville, Illinois. Fertita is also looking at the possible development of a Las Vegas Strip property. He has filed plans for a 43-story, 2,420-room hotel-casino on a plot of real estate he purchased in 2022 for $270 million.
Original article: https://www.yogonet.com/international/noticias/2023/08/10/68267-nevada-gaming-control-board-recommends-approval-of-golden-nugget-39s-hard-rock-lake-tahoe-purchase
