Hard Rock Casino and Hotel in Lake Tahoe
Courtesy Hard Rock Lake TahoeThe Hard Rock Hotel & Casino Lake Tahoe will soon see a new owner: billionaire Tilman Fertitta, the owner of the Houston Rockets basketball team.
The Stateline, Nevada, casino will then become a Golden Nugget casino and hotel, after the transaction closes “within the next seven to twelve months, subject to regulatory approvals and other customary closing conditions,” Fertitta Entertainment said in a statement. The Tahoe location will be the third Golden Nugget in Nevada, after locations in Las Vegas and Laughlin.
The acquisition price was not disclosed.
FILE: The Hard Rock Hotel & Casino in Stateline, Nev., from the top of Heavenly Mountain on Jan. 30, 2017, in South Lake Tahoe, Calif.
George Rose/Getty Images“We are thrilled to be welcoming the Lake Tahoe property to the Golden Nugget family,” Fertitta said in a news release. “This acquisition represents a significant opportunity for us to expand our footprint into the Northern Nevada marketplace.”
In addition to the Houston Rockets and the Golden Nugget casino chain, Fertitta owns Landry’s and Mastro’s steakhouse chains. Fertitta Entertainment's holdings in the Bay Area include Bubba Gump Shrimp Co. at Fisherman's Wharf, Morton's steakhouse in San Francisco, and two Mastro’s in San Francisco and Santa Clara.
The Hard Rock Lake Tahoe opened in 2015 after a $60 million renovation. The property has operated as a casino and hotel since 1965, starting with the Sahara Tahoe and later becoming the High Sierra and then the Horizon. Elvis famously performed at the Sahara Tahoe 106 times, and his suite of rooms is still available for hotel guests to book.