The fabled Tahoe Biltmore Lodge and Casino is slated to sell at public auction to the highest bidder, according to public records.
The blighted hotel has been closed since 2022 and was slated to be redeveloped into a Waldorf Astoria. However, the property owner, Newport Beach-based EKN Development, defaulted on its loan last spring.
On July 12, a notice of trustee’s sale was filed with the Washoe County Recorder’s Office by First American Title insurance company, which is the appointed trustee on the property. The document states the property is in default and will be sold at a public auction. The remaining principal on the loan, plus interest, fees, charges and expenses, is over $110 million.
