Denver developer acquires historic resort at Lake Tahoe once owned by Frank Sinatra
Cal Neva Resort, a historic hotel-casino built along the California-Nevada line in 1926, has been closed since 2013.
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Cal Neva Resort, a historic hotel-casino built along the California-Nevada line in 1926, has been closed since 2013.
LAKE TAHOE, Nev. - When Larry Ellison, the founder of Oracle Corp., spent $35.8 million in 2017 to buy the Cal Neva Lodge in bankruptcy court, many hoped he'd bring his Midas touch to Lake Tahoe and the aging resort.
Cal Neva finally acquired, could take on new branding.
LAKE TAHOE, Nev. - When Larry Ellison, the founder of Oracle Corp., spent $35.8 million in 2017 to buy the Cal Neva Lodge in bankruptcy court, many hoped he'd bring his Midas touch to Lake Tahoe and the aging resort.
A renowned and historic resort perched on Lake Tahoe's north shore has been bought and is headed for a wide-ranging revamp in a deal that bestowed a tidy profit on the property's seller, tech tycoon Lawrence Ellison.