Nevada: MontBleu casino could soon open as Bally’s Lake Tahoe, with upgrades
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he Montbleu Resort Casino & Spa in the Lake Tahoe area could soon change its name, pending approval from the Douglas County Commission. The commissioners were set to discuss the proposed renaming of the gambling resort during their meeting today, July 1, reports the Nevada News-Press.
If the name change is approved, the Montbleu Resort Casino & Spa will begin soon operating as Bally’s Lake Tahoe denoting the property’s recent acquisition by Rhode Island-headquartered casino operator Bally’s Corporation.
Bally’s President and CEO George Papanier said of the renaming that Montbleu is a “Premium entertainment asset that is commensurate with the iconic Bally’s brand” and that as such and as part of the company’s previously announced rebranding initiative, they are now looking forward to rebranding the casino complex and integrating it into the Bally’s family.
It was last year when it was first announced that former casino operator Eldorado Resorts, now part of the larger Caesars Entertainment, Inc. group, would sell its Lake Tahoe property to Bally’s, then Twin River Worldwide Holdings. The deal marked Bally’s entry into the Nevada gambling market.
To secure approvals for their $ 17.3 billion combination, Eldorado and Caesars were told by regulators in the states where they operated to dispose of some of their properties in order to mitigate the deal’s impact on competition. The Montbleu Resort was one of those the two companies sold to new owners as assets that would not be crucial to the enlarged group.
Located in Stateline, Nevada, the Montbleu is minutes away from Lake Tahoe. The property has 438 hotel rooms, a casino floor with 418 slot machines and 17 gaming tables, and approximately 14,000 square feet of flexible convention, meeting, and exhibition space.
Bally’s completed the takeover of the hotel and casino resort last April and is now looking to give it a facelift along with the planned rebranding.
It became known that construction has begun on a Tahoe South Events Center which will be in the former parking lot of Montbleu.
Mr. Papanier said in an email to the local media that “additional capital improvement plans are under development” and that those will “enhance the property and complement Tahoe South Events Center.”
During construction, parking will be available in the garage and in the backlot as well as valet, the property said.
The event center will be a 132,000 square meters, two-level, multi-purpose facility designed to complement Lake Tahoe’s existing play and recreational facilities. It will host conventions, special events and entertainment, and a variety of events for the South Tahoe host community, including concerts, family programming, and professional and amateur sports events.
The event center’s economic impact on the community is projected to be $40-60 million per year.
