Las Vegas Sun NewsL.A.-area firm buys Lake Las Vegas hotel, gaming property
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29 November 2012
2:31 p.m.
Updated
29 Nov. 2012 3:59 p.m.
Newage Lake Las Vegas LLC has purchased the Ravella at Lake Las Vegas hotel and the adjacent Casino MonteLago in Henderson, Clark County records show. The company bought the 13.84-acre Ravella site and the 1-acre Casino MonteLago site on Nov. 21 for $46.859 million from a subsidiary of Deutsche Bank, records show. Under leases, the owner of the Ravella brand continues to run the hotel and Intrepid Gaming Operating Company Inc. remains the licensed gaming operator at Casino MonteLago. The hotel site initially was a Ritz-Carlton. It closed in May 2010, and a Deutsche Bank unit foreclosed on the real ...
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When you can get a hotel room at Ravella for $69 through Val Pak Coupons, Living Social and Groupon - sorry but this is not a property that is doing well. Getting the golf courses back up and running is crucial to this area coming back. Seeing how one of the great golf courses in all of Nevada has been run into the ground is just sad.
Ritz Carlton was stuffy, expensive and just not a place that was that welcoming. So you go from very expensive now to a hotel that has a management company who does not understand Las Vegas clearly - running Val Pak coupons for the same guest rooms that were $300 a night. Dolce is not the right management company. Same guest room - $300 in April of 2010 and a year later they are $69 - that is a sign of a desperate hotel who does not get it.
I agree with kirkland. no way they keep management in place at the hotel. But also add the casino. Nice place, poorly ran, no live gaming, crappy restaurant.
People running the Casino have more money than brains. Besides all of the Lake LV homes and condos, there are two very nice neighborhoods nearby, Tuscany and Calico Ridge, that could really help this beautiful poorly run casino do well, but there is virtually no marketing. Those clowns should take a lesson from Station Casinos - give the people a reason to come. As a gaming industry veteran, I hate to see such a nice property fail, for the 3rd time. Sad.
Do locals and by locals I mean residents in Henderson visit the area? The few times I've been to Lake Las Vegas, it was a ghost town. I won't drive clear across the valley when we have resorts on our side of town and the Strip nearby.