Hard Rock Lake Tahoe To Become Golden Nugget as Nevada Greenlights Sale

Article by : Erik Gibbs Aug 28, 2023

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The Las Vegas casino market remains active. The Lake Tahoe resort, which has had its name multiple times since it was founded in the 1960s, will undergo a new change.

The Nevada Gaming Commission came to a unanimous decision on Thursday and gave its green light for the sale of the Hard Rock Lake Tahoe Resort. The resort will now change its name to the Golden Nugget Lake Tahoe.

The change will be officially in place in about 30 days, and that is what authorities have officially approved for Fertitta Entertainment of Houston to move forward with. The company will now trigger the missing steps to own the resort and its operation fully.

Tilman Fertitta, a billionaire, is the official one of Fertitta Entertainment. The Hard Rock Laje Tahoe Resort will now become one of the six giant casinos owned by the group and under the r Golden Nugget brand.

The line of casinos operating under Golden Nugget is in downtown Las Vegas, Laughlin, Colorado, Louisiana, Mississippi, and Atlantic City. Yet, entirely before Fertitta Entertainment laid its eyes on the Lake Tahoe resort, the casino and hotel underwent extensive renaming throughout its history.

At some point, the property was named Sahara Tahoe, followed by High Sierra Resort and Lake. At last, Hard Rock prevailed for quite some time and the name that most die-hard Las Vegas fans will remember the property by.

Fertitta Entertainment purchases the resort’s operations from Paragon Gaming, a Las Vegas-based company. Although no official sale price was released, authorities gave the purchase their green light after validating all the negotiation specifics.

Gaming Commission Chairwoman Jennifer Togliatti mentioned that the entire purchase process was approved after a thorough revision with no fault or details to be fixed, corrected, or changed.
With the purchase approved, the new company plans to invest close to $230 million in rebuilding the resort. Commission member Brian Krolicki, who resides in Lake Tahoe, claims this will be a significant opportunity for local communities to thrive on what the new operation might bring to the area.

The plans by Fertitta Entertainment to erect a 2,420-room hotel-casino on six acres at Harmon Avenue and the Strip, which it bought last year for $270 million, were not questioned by gaming authorities.