Historic Tahoe casino property to remain open | TahoeDailyTribune.com

Historic Tahoe casino property to remain open

Associated Press

The lender that foreclosed on the historic Cal Neva Resort at Lake Tahoe says a private management firm has been hired to run the operation and keep it open while the property’s future is contemplated.

Canyon Partners, a Los Angeles-based investment group, earlier this month assumed ownership of the hotel-casino once owned by Frank Sinatra after no bids were received at foreclosure sales held in California and Nevada.

On Wednesday, Canyon announced it has hired National Hospitality Holdings LLC, a Philadelphia-based company that specializes in hotel investment and management, to oversee the property.

Canyon officials say they’ve also received dozens of calls from interested investors about the 13-acre site that straddles the Nevada-California line on Tahoe’s north shore.