Golden Gate Downtown Las Vegas Casino Was Approved For 50 Percent Sale
Golden Gate downtown Las Vegas casino was approved for a 50 percent sale unanimously by The Nevada Gaming Commission. The Golden Gate is the oldest hotel casino in Las Vegas real estate. The investor is Desert Rock Enterprises.
Desert Rock Enterprises is owned by brothers Greg and Derek Stevens. Mark Brandenburg, 50 percent co owner of the downtown casino, will continue to manage the 102 years old Fremont Street landmark.
Because both companies are privately held, the sale price is undisclosed.
The downtown hotel in Las Vegas will develop into a boutique hotel with the addition of its recent investor.
Desert Rock is aggressively investing in Las Vegas commercial real estate. They also own several land investments and 19 percent of Riviera Holdings, the parent company of a Las Vegas Strip hotel. Another investment includes the Las Vegas 51s baseball franchise.
Their famous shrimp cocktail will not change due to its popularity.
Additional investment in the Fremont Street hotel will include a renovation of the hotel’s public areas with the addition of restrooms and a new sign on Fremont Street. The hotel will remodel the 106 rooms, too.
In recent Las Vegas casino news, the investment in Golden Gate casino is the third sale in a downtown casino.
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Golden Gate downtown Las Vegas casino was approved for 50 percent sale.