SPARKS, Nev. (KRNV & MyNews4.com) - Affiliates of Global Gaming & Hospitality (GGH) and Husky Finance are officially the new owners of John Ascuaga’s Nugget Casino Resort in Sparks, Nevada. They tell News 4 the sale closed early Monday morning, December 16, 2013.
The new owners say their plans are to invest, "up to $50 million dollars into the property in the coming months to update and renovate the Nugget’s casino floor, hotel rooms, restaurants, convention space, exterior and signage, as well as adding new restaurant concepts and entertainment venues."
The Nugget will operate under the leadership of new President and CEO, Carlton Geer. Geer is also co-owner and managing partner of GGH. In a news release Geer said, "We appreciate the Ascuaga family’s support and assistance during this transition... They have been a major contributor to the community in all respects. Over a period of 58 years, they built a significant gaming resort that will be enduring.”
The property’s name, John Ascuaga’s Nugget, will remain in the near term. The property’s former owner and namesake, John Ascuaga, has been named Chairman Emeritus.
New owners say no lay-offs are planned as a result of the sale, and management positions vacant due to historical attrition are expected to be filled and announced soon.
The Nugget's community programs, such as providing Thanksgiving and Christmas dinners at St. Vincent's Dining Room and annual Nugget scholarship awards will continue. The Nugget's premier special events like the Best in the West Nugget Rib Cook-Off and Star Spangled Sparks will also carry on.