The management company that runs Lady Luck casinos has purchased properties in the city from its landlord and plans to remodel them in addition to expanding casinos and hotels.
Las Vegas-based Henry Brent has Timbers Bar and Grill Chain founder Andrew Donner as major shareholders, and last month purchased 758 rooms from a private real estate company based in Newport Beach, California for $10.3 million.
Henry Brent, along with Streep casino architect Klee Zuba, said Keith Grossman, Donner's business partner, was making part of the building. The company also expects to add about 20,000 square feet to the casino floor, ultimately building up to 1,000 hotel rooms on the site of the building's two-story and four-story old towers.
The remodeling is expected to begin in about three months and cost up to $25 million. The entire master plan, including the expansion, could take up to three years, Grossman said. Other than Lady Luck's existing 780 or so employees and a few maintenance workers who were with the former landlord, the rest will remain in the property, he said.
The management company, which had the right to buy the property first as part of the lease, jumped at the opportunity to buy Lady Luck, Grossman said.