RENO, Nev.—A California investment company says it is buying Reno's Grand Sierra Resort and Casino, the largest hotel-casino in northern Nevada. Terms of the pending deal have not been released but Meruelo Group founder and CEO Alex Meruelo said in a statement Wednesday the day-to-day operations will be unaffected by the acquisition
The 145-acre property with 2,000 rooms was the world's largest hotel-casino when it opened as the MGM Grand in 1978.
The Grand Sierra Resort Corp. bought it from Caesars Entertainment for $150 million in 2005. Since 2008, it's been owned by a subsidiary of JPMorgan Chase & Co.
The Meruelo Group owns five construction and engineering firms in the southwest U.S. as well as a number of restaurants in California.
———
Information from: Reno Gazette-Journal, http://www.rgj.com
Powered By WizardRSS
| < Prev | Next > |
|---|
Copyright © 2024 ToCasino.net Online Casino. All Rights Reserved. Designed by