Tahoe Biltmore Lodge and Casino gets a new owner
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Tahoe Biltmore Lodge and Casino in Nevada has been bought by EKN Development Group Incorporated for $56.8 million. The facility opened in 1946 and features a 113-room hotel and a small casino with a selection of 100 slots.
Tahoe Biltmore Lodge and Casino gets a new owner. The previous owner gave $28.4 million to buy the venue 14 years ago. However, the redevelopment plan was approved in 2011 despite criticism from the local community.
EKN Development Group Incorporated bought the Tahoe Biltmore Lodge and Casino from Stack Real Estate and Garn Development. It intends to continue the operation of the hotel and casino while it works on a redevelopment plan. The project will include a luxury hotel, luxury condominiums, casino and curated mix-use retail.
Tahoe Biltmore Lodge and Casino is located near the Cal Neva Resort and casino, which was bought by billionaire American businessman Larry Ellison for $35.8 million in late-2017. The resort was once owned by entertainer Frank Sinatra.
