Sale of Ascuaga’s Nugget approved by board
November 22, 2013
LAS VEGAS — Nevada gambling regulators have given final approval for the sale of John Ascuaga's Nugget in Sparks, ending five decades of family ownership.
The Nevada Gaming Commission approved the sale Thursday to a private investment group for an undisclosed price.
Global Gaming & Hospitality will operate the resort located in the heart of Sparks along Interstate 80.
Global Gaming partners Michael Kim and Carlton Geer had previously been given a preliminary finding of suitability.
The Las Vegas Review-Journal reports the sale is expected to close in mid-December.
Members of the Ascuaga family will be involved in the transition of the property to new management, which will retain the Nugget name.
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The new company has said it will invest $50 million to improve the 1,600 room hotel-casino.