US – Fertitta Entertainment to buy Hard Rock Lake Tahoe and rebrand it to a Golden NuggetBy Phil - 28 March 2023
Fertitta Entertainment, who owns five Golden Nugget Hotel and Casinos from Nevada to Atlantic City, has signed a deal to buy Hard Rock Lake Tahoe in Stateline from Paragon Gaming for an undisclosed price.
The deal is expected to close within the next seven to 12 months, subject to regulatory approvals and other customary closing conditions. Fertitta confirmed it will transform the Hard Rock into a Golden Nugget with a remodeling of the property planned.
“We are thrilled to be welcoming the Lake Tahoe property to the Golden Nugget family,” said Tilman Fertitta, CEO and owner of Fertitta Entertainment. “This acquisition represents a significant opportunity for us to expand our footprint into the Northern Nevada marketplace.”
Diana Bennett, CEO of Paragon Gaming, said: “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. 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.”