\n Posted on: July 24, 2024, 12:19h.\u00a0\n <\/p>\n
\n Last updated on: July 24, 2024, 12:20h.\n <\/p>\n
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<\/div>\n<\/p><\/div>\n<\/p><\/div>\nGolden Nugget Lake Tahoe in Stateline, NV, along the California border is set for a complete overhaul of the resort casino.<\/span><\/p>\n Billionaire Tilman Fertitta\u2019s Fertitta Entertainment Inc. acquired the former Hard Rock Hotel & Casino Lake Tahoe<\/a> last year from Paragon Gaming for an undisclosed price. Both entities are privately held.<\/span><\/p>\n The 539-room hotel and 25,000-square-foot casino resort rebranded to Golden Nugget<\/a> in September 2023. It marked the eighth casino in Fertitta\u2019s Golden Nugget empire to go along with gaming resorts in Las Vegas, Laughlin, Atlantic City, Biloxi, Louisiana\u2019s Lake Charles, Colorado\u2019s Cripple Creek, and Illinois\u2019 Danville.<\/span><\/p>\n<\/div>\n Appearing before the Nevada Gaming Control Board (NGCB) to receive the state\u2019s go-ahead to renovate the hotel-casino, Golden Nugget Lake Tahoe General Manager Jason Sides said \u201cevery square foot\u201d of the property will be touched during the revamp.<\/span><\/p>\n Sides did not specify how much capital Fertitta Entertainment is plowing into the Lake Tahoe property, but it\u2019s presumably tens of millions of dollars.<\/span><\/p>\n We have big plans for the property with significant capital investment,\u201d Sides explained. \u201c<\/span> We\u2019re going to touch basically every square foot of the property.\u201d<\/span><\/p>\n<\/blockquote>\n Sides\u2019 boss, Mr. Fertitta, told the same board after filing acquisition paperwork in 2023 that he saw the Hard Rock property \u201cas a great opportunity\u201d to expand his casino portfolio.<\/span><\/p>\n We will take this property and totally transform it,\u201d Fertitta told the NGCB. \u201cAnd, as we always do, add the Golden Nugget name to it. We expect it to be one of the top properties in the [South Shore Lake Tahoe] market.\u201d<\/span><\/p>\n<\/blockquote>\n The Golden Nugget Lake Tahoe renovation will see each guestroom made over. Rooms will remain available throughout the undertaking, though at reduced capacity as one hotel tower will remain open while the other is renovated and vice versa.<\/span><\/p>\n Two new restaurants \u2014 Mastro\u2019s Steak House and Saltgrass Steak House \u2014 which are under Fertitta\u2019s Landry\u2019s umbrella of hospitality brands, are also part of the resort redo.<\/span><\/p>\n The casino floor will see interior enhancements and upgrades of the gaming venue\u2019s 500 slot and video poker machines. New table games are also forthcoming.<\/span><\/p>\n Sides says the company believes the work can be completed by early next year.<\/span><\/p>\n Along with Golden Nugget<\/a>, South Shore Lake Tahoe is home to three other casinos \u2014 Harvey\u2019s, Harrah\u2019s, and Bally\u2019s. Over the past 12 months, the four casinos won about $248.6 million, a 1.2% year-over-year decline.<\/span><\/p>\n Fertitta remains bullish on the Nevada gaming industry, as the Lake Tahoe pickup takes his Silver State holdings to three with his downtown Las Vegas and Laughlin Nuggets. <\/span>Fertitta is also mulling a new from-the-ground-up integrated resort<\/a> on the Las Vegas Strip. The casino owner in 2022 paid $270 million for 6.2 acres of prime property located at S. Las Vegas Blvd. and Harmon Avenue.<\/span><\/p>\n<\/div>\n After purchasing the tract, Fertitta had the Travelodge and retail strip mall that occupied the acres demolished.<\/span><\/p>\n In addition to his spending in Nevada, Fertitta\u2019s organization in February began a major overhaul of its Atlantic City Golden Nugget<\/a> that involves all 700 guestrooms being upgraded. \u00a0\u00a0<\/span><\/p>\n<\/div>\n![\"Golden](\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2024\/07\/caption-858x572.jpg\")
Resort Overhaul<\/b><\/span><\/h2>\n
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South Shore Gaming Market<\/b><\/span><\/h2>\n