Hard Rock Sale Extends Busy Period in Reno-Tahoe Marketįertitta’s purchase of Hard Rock Hotel & Casino Lake Tahoe extends what’s been a brisk stretch of acquisitions and openings in the Reno-Tahoe market. It’s been a privilege to own this historic property and we look forward to seeing the next chapter under the guidance of Fertitta Entertainment,” said Diana Bennett, CEO of Paragon Gaming, in the statement. “We have had an incredible run over the last seven years in Lake Tahoe and couldn’t be more excited for what the future holds for our amazing team members. With the sale, Paragon’s property portfolio will be reduced to two - the OYO Hotel and Casino Las Vegas and The Den Las Vegas. The brand changed to High Sierra in 1983, and in 1990, the name was altered to Horizon Lake Tahoe. The venue opened in 1965 as Sahara Tahoe. Las Vegas-based Paragaon Gaming rebranded the Lake Tahoe property to Hard Rock in January 2015, licensing that name from the Seminoles. When it comes to casinos, the Hard Rock brand is synonymous with venues controlled and operated by the Seminole Tribe of Florida. will likely be transitioned to Golden Nugget branding, and the operator recently broke ground on a new venue in Illinois. A recently acquired casino hotel in Cripple Creek, Colo. Other properties bearing that name are located in Atlantic City, NJ, Lake Charles, La., and Biloxi, Miss. The venue will be the third Golden Nugget in Nevada, joining one in downtown Las Vegas and another in Laughlin.

“This acquisition represents a significant opportunity for us to expand our footprint into the Northern Nevada marketplace.”

We are thrilled to be welcoming the Lake Tahoe property to the Golden Nugget family,” said Tilman Fertitta in a statement. The deal marks the operator’s first move into the Reno-Lake Tahoe market. Fertitta Entertainment controls the Golden Nugget casino empire, making Hard Rock Tahoe’s conversion to that brand likely in the future. (Image: SFGate)įinancial terms of the transaction, which is slated to close in the next seven to 12 months, weren’t revealed. Fertitta Entertainment is buying the venue. It could ultimately rebrand the property to a Golden Nugget venue. Financial, Gaming Business, Mergers and Acquisitions.įertitta Entertainment is acquiring Hard Rock Hotel & Casino Lake Tahoe from Paragon Gaming.

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