Paragon Gaming Purchases The Hard Rock Hotel at Lake Tahoe

Hard Rock Hotel Lake TahoeThe Hard Rock Hotel & Casino situated in Lake Tahoe is going through a difficult patch. In the month of May 2015, the organisation was sued by SMC Construction (Reno) because of its failure to pay more than $6 million towards construction work.

One year later, in 2016 the owners of this hotel and casino had additional 5 lawsuits against them. The recently filed lawsuit was from Tahoe Specialty Flooring & Window Design in the month of October 2016.

Paragon Gaming has completely acquired the ownership and management of 539 room Hard Rock Café and Casino on 2nd November 2016 in Lake Tahoe. It was recommended and approved after a unanimous decision by the state Gaming Control Board. Nevada Gaming Commission has provided the preliminary sanctions to Paragon Gaming. This gaming casino is looking forward to getting the final sanction of the license by 17th November 2016.

Hard Rock Hotel & Casino Lake Tahoe

Paragon Gaming will acquire the largest share of the property after getting sanction from the Gaming Commission. The company is looking forward to converting the loan into a controlling equity interest. It will take 12 months to complete the conversion process once it gains approval from Paragon Gaming Board and Nevada Gaming Commission.

The management from Paragon promptly settled the nonpayment of work performance disputes between the contractors and The Hard Rock Hotel & Casino. This has resulted in protection of the jobs and avoided unemployment in the market. The new management from Paragon Gaming is looking forward to working on the new property and with prospective partners for creating new vacation packages at Lake Tahoe.

A number of gaming destinations have been managed and developed by Paragon Gaming in the United States and Canada. The most recent acquisition by this gaming company is Hooters Hotel-Casino which is situated at Tropicana Avenue and Edgewater Casino located in Vancouver in British Columbia. At present, Paragon Gaming is looking after the construction of Parq Vancouver which is a $600 million entertainment resort. The opening of the Parq is scheduled in the fall of 2017.

The construction of Parq Vancouver is completely managed by Paragon Gaming and it will be open to the public by the end of fall 2017. BC Place Stadium will be attached to the Parq and two Marriot branded hotels. The stadium can seat 54,500 spectators and it will be the home of Vancouver Whitecaps which is a very popular and major soccer league franchise and The BC Lions which is a Canadian football league team.

Paragon Gaming acquired the Whistler Blackcomb Ski Resort in August 2016. The resort is situated in the north of Vancouver. This company is also exploring a partnership with Vail Resorts Management Co in order to operate Heavenly Ski Resort at Lake Tahoe.

Jay Stevens

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