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Full House Resorts to renovate casino at Hyatt Regency Lake Tahoe18 December 2015(PRESS RELEASE) -- Full House Resorts today announced that it has reached an agreement with a Hyatt affiliate to renovate the Grand Lodge Casino at Hyatt Regency Lake Tahoe Resort, Spa & Casino, enhancing the property's position as the leading gaming and hospitality resort at this pristine ski, summer and meeting destination. Located within the resort, the Grand Lodge Casino is operated by Full House Resorts. The casino renovation, which is expected to be completed before the end of the first quarter of 2017, will be phased to minimize guest disruption at both the casino and resort. Under the agreement, Hyatt will invest up to $3.5 million in the refurbishment of the casino and related food and beverage facilities and Full House will invest up to $1.5 million, principally in new gaming and gaming-related equipment. The lease is being extended from its current maturity date of Aug. 31, 2018 to Aug. 31, 2023. "We value our long-standing relationship with Hyatt and are pleased to collaborate to further differentiate this unique AAA Four Diamond resort from any competitor in Northern California or Nevada," said Daniel R. Lee, president and CEO of Full House Resorts. "Our entire team is excited with the upcoming improvements," said Scott Ruhl, general manager of Northern Nevada and the Grand Lodge Casino. "We look forward to welcoming our guests into a 'new' and energized casino." "We are delighted to be working with Full House Resorts on the casino renovation which we believe will elevate the guest experience at Hyatt Regency Lake Tahoe Resort, Spa & Casino, as well as the visitor experience at the destination," said Steve Sokal, senior vice president of asset management, Hyatt. |