Fertitta Entertainment Agrees Deal to Acquire Hard Rock Tahoe

Hotel and casino could rebrand as Golden Nugget venue

by - Monday, March 27th, 2023 3:21

Hard Rock Lake Tahoe

Fertitta Entertainment has agreed a deal to acquire Hard Rock Hotel & Casino Lake Tahoe from Paragon Gaming and could potentially rebrand the property as a Golden Nugget venue.

The exact financial details of the transaction are undisclosed, but it is expected to conclude within the next seven to twelve months. Fertitta Entertainment owns the Golden Nugget casino empire and it is likely that the Hard Rock Tahoe will be rebranded. This agreement represents the operator’s initial venture into the Reno-Lake Tahoe market.

CEO of Fertitta Entertainment Tilman Fertitta said in a statement:

“We are thrilled to be welcoming the Lake Tahoe property to the Golden Nugget family. This acquisition represents a significant opportunity for us to expand our footprint into the Northern Nevada marketplace.”

The location will be the third Golden Nugget establishment in Nevada, in addition to the ones situated in downtown Las Vegas and Laughlin. There are other properties with the same name located in Atlantic City, NJ, Lake Charles, La., and Biloxi, Miss. It is probable that a newly obtained casino hotel in Cripple Creek, Colo. will also undergo a rebranding to adopt the Golden Nugget name, and the operator has recently started constructing a new venue in Illinois.

Diana Bennett, CEO of Paragon Gaming, said of the deal:

“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.”

Image credit: PLSublett / CC BY-SA 3.0

Daniel Hunter

iGaming veteran & data analyst covering the world of land-based and online gambling in the United States.

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