Paragon Gaming has won preliminary regulatory approval to acquire a majority stake in the Hard Rock Hotel in Stateline, Nevada, near Lake Tahoe.
Las Vegas-based Paragon said it plans to revitalize the property by developing new Lake Tahoe vacation packages with partners that could include Vail Resorts Management, which operates Lake Tahoe’s Heavenly ski resort near.
Paragon, co-founded by Diana Bennett, daughter of Las Vegas gaming legend Bill Bennett, manages the casino at Westgate Las Vegas Resort, the Hooters hotel and casino in Las Vegas and is involved in ownership and management of the Edgewater Casino in Vancouver, British Columbia.
The company also is building the Parq Vancouver, due to open in fall 2017. The $600 million resort will have two Marriott hotels and will be attached to the BC Place Stadium, a 54,500-seat domed stadium that will be home to the BC Lions Canadian Football League team and the Vancouver Whitecaps, a Major League Soccer franchise.
The Hard Rock acquisition is expected to receive final approved from the Nevada Gaming Commission at its November 17 meeting.
