Author Home Author Archives Search Articles Subscribe
Stay informed with the
NEW Casino City Times newsletter!
Newsletter Signup
Stay informed with the
NEW Casino City Times newsletter!
Related Links
Related News
Recent Articles
Best of Howard Stutz
Howard Stutz

Gaming Control Board gives preliminary OK to sale of John Ascuaga's Nugget

7 November 2013

LAS VEGAS -- State gaming regulators granted preliminary approval Wednesday for the sale of John Ascuaga’s Nugget in Sparks to a private investment group.

The Gaming Control Board didn’t have any issues with Global Gaming & Hospitality, which will operate the resort. Michael Kim and Carlton Geer, partners in Global Gaming, were given a pre­liminary finding of suitability by the Nevada Gaming Commission last month.

A sales price for the transaction, which will end more than 50 years of family ownership in the Northern Nevada hotel-casino, was not disclosed.

The new ownership said previously it plans to invest $50 million on improvements to the 1,600-room hotel-casino. Initially, the company stated it would spend $20 million over the next two years on new gaming equipment, restaurant renovations and other upgrades to the property’s public area.

The Nevada Gaming Commission will make a final ruling on the ownership change on Nov. 21.