The Golden Nugget Lake Tahoe is undergoing a significant transformation under the ownership of privately held Fertitta Entertainment. General manager Jason Sides recently informed gaming regulators that every inch of the property will be renovated in the coming year. The initial phase of the redevelopment has already begun with the renovation of the 539-room hotel and 25,000-square-foot casino. One of the resort’s towers has been temporarily closed to facilitate the improvements, and the first floor of renovated rooms is expected to be available by October.
With a substantial capital investment in the works, Sides revealed plans for the addition of a Salt Grass Steakhouse and Mastro’s Steak House, both owned by Fertitta. Images on the Golden Nugget website showcase a revamped lobby area and room renderings. Sides mentioned that visitors can anticipate further construction phases throughout the year as the project progresses.
The property, now operating under its fifth name since the 1960s, was purchased by Houston billionaire Tilman Fertitta’s Fertitta Entertainment last year. The renovations are slated for completion by 2025, with hopes of establishing the Golden Nugget Lake Tahoe as a premier property in the market.
The South Tahoe market has faced challenges over the past two decades, experiencing a decline in gaming revenue due to economic downturns and competition from Northern California tribal casinos. However, there are signs of recovery, with gaming revenue in South Lake Tahoe showing a 5.6 percent increase in the first five months of the year compared to 2023.
Beyond the casino floors, the area has seen non-gaming investments such as the $80 million Tahoe Blue Event Center and the transformation of the Lake Tahoe Resort Hotel into the Margaritaville Resort Lake Tahoe. Fertitta Entertainment’s plans extend beyond Lake Tahoe, with a proposed 2,420-room hotel-casino project on the Las Vegas Strip.
Fertitta Entertainment, known for its diverse hospitality and entertainment portfolio, including restaurant chains and sports teams, is poised to elevate the Golden Nugget Lake Tahoe to new heights. With a history dating back to the 1960s, the property’s latest reincarnation aims to capture the essence of luxury and entertainment in the scenic Lake Tahoe region.
