Marnell Gaming has been approved by the Nevada Gaming Control Board to acquire the Nugget casino in Sparks and the company has promised to invest million into the property.
The company plans to invest about $25 million over the next 18 to 24 months and will implement new player tracking technology and slot machines, among other changes. The company also plans to remodel the casino’s west hotel tower and overhaul the convention center, according to a report on GamingToday.com
The control board unanimously approved Marnell’s planned purchase of the Nugget for an undisclosed sum. The sale was first announced in February. The Nevada Gaming Commission is expected to approve the deal later this month, according to the report.
The action comes after federal officials announced a $1 million civil penalty against Sparks Nugget Inc., which sold the casino in 2013. Sparks Nugget was hit with the fine from the Financial Crimes Enforcement Network for “egregiously and willfully” violating anti-money laundering requirements, GamingToday.com said.
Marnell Gaming CEO Anthony Marnell III told the control board that such issues “will never happen” under the new owner. Marnell said his company had reached out to a former control board chairman to help with its efforts to comply with anti-money-laundering laws, the report said.
“The property is in desperate need of capital. There’s an opportunity to improve the operations of the business substantially,” he told the board.
