Bankruptcy court judge approves Cal Neva Resort & Casino settlement
whaupt@sierrasun.com
EMILY KAISER / SIERRA SUN
A U.S. Bankruptcy Court judge in Reno, Nev., has signed off on a deal that paves the way for Cal Neva Resort & Casino to be acquired by a Silicon Valley billionaire.
Judge Gregg W. Zive approved a compromise and settlement agreement between creditors tied to the resort and casino, which is located in Crystal Bay, Nev. The judgment was entered on Tuesday, Dec. 26.
Lawrence Investments LLC, a venture capital investment firm headed by Oracle Corp. co-founder Larry Ellison, will assume control of the property. Lawrence Investments LLC will pay $35.8 million to acquire the resort and casino.
Read more about the history of Cal Neva resort & Casino here.
Support Local Journalism
Support Local Journalism
Readers around Lake Tahoe, Truckee, and beyond make the Sierra Sun's work possible. Your financial contribution supports our efforts to deliver quality, locally relevant journalism.
Now more than ever, your support is critical to help us keep our community informed about the evolving coronavirus pandemic and the impact it is having locally. Every contribution, however large or small, will make a difference.
Your donation will help us continue to cover COVID-19 and our other vital local news.