Full House Resorts CEO Dan Lee said he expects the company’s short-term lease to operate the casino at the Hyatt Regency Lake Tahoe in Incline Village will be extended.
And that casino could reap benefits if Hyatt Lake Tahoe owner Larry Ellison, who purchased the picturesque property in 2021 for $345 million, remodels the resort. Ellison is the founder of database company Oracle and has a net worth of $184.8 billion, according to Forbes.
“He is moving ahead and the first phase is the stuff along the beachfront,” Lee said during Full House’s quarterly earnings conference call on March 6. “Frankly, [the villas] along the beachfront were built 50 years ago and [the original developers] didn’t make use of the special real estate.”
