Tillman Fertitta has received approval from the Nevada Gaming Commission to acquire the Hard Rock Casino Resort Lake Tahoe. [Image: Shutterstock.com]
The Nevada Gaming Commission has given Tillman Fertitta the green light to acquire the Hard Rock Casino Resort Lake Tahoe. Thursday’s unanimous decision means the deal must go through on Friday. The property will be renamed the Golden Nugget Lake Tahoe Hotel and Casino.
She agreed to purchase the property from Paragon Gaming for an undisclosed amount
Fertitta Entertainment agreed to purchase the property from Paragon Gaming for an undisclosed amount in March. The seller has licensed the Hard Rock name and will operate only one casino in the state when the transaction closes – the Oyo Hotel & Casino in Las Vegas.
Fertitta plans to renovate the property, aiming to spend about $227 million to do so. Since this work is still in the planning stages, there is no timeline for its completion. He intends to retain the existing staff and keep the property running through the phased renovations.
Fertitta owns the Golden Nugget brand, which has casinos in several states. He also owns the NBA’s Houston Rockets and the Landry’s restaurant chain.
