Navegante Group

Last updated
Navegante Group
Industry Gaming
Founded1996
FounderLarry J. Woolf
Headquarters Paradise, Nevada
Products hotel casinos
Website Navegante Group

The Navegante Group is a gaming company based in Paradise, Nevada, specializing in areas of casino management, development, consulting and executive recruitment. It is often retained to manage distressed properties while new owners seek a gaming license. [1]

Contents

History

After six years as the chairman, President and CEO of MGM Grand Casino in Las Vegas, Larry J. Woolf formed Navegante. Navegante's first major development and management contract was Casino Niagara in 1996. [2]

When the Ontario government pursued development of casino gaming in Niagara Falls, Canada in 1996, officials selected 27 potential development groups including three publicly traded companies. The Niagara plan called for a temporary gaming facility under tight construction time frames. In June, Navegante was selected to head construction and development of their first casino with a planned opening scheduled for December of that year. To meet this deadline, construction ran 24 hours a day, 7 days a week. As Navegante had projected, the property generated $2 million per day in revenue and $1 million per day in profit. The government of Ontario received its investment back in 180 days. Upon opening, Casino Niagara was known, in the industry, as being the most profitable casino operation, on a square foot basis, in the world.

In 2005 Navegante was contracted by Tamaras Group to take over the existing operations as the lessee/manager of four hotel/casino properties in downtown Las Vegas: the Plaza, Las Vegas Club, Western and Gold Spike. [3] Navegante, in conjunction with Tamaras, was responsible for a rapid and dramatic turnaround, taking the properties from major losses to positive cash flow. In May 2007, Navegante provided Tamaras with notice of termination of the lease agreements. In 2008, operations of these casinos were transitioned to another company.

On August 1, 2007, Navegante was approved to operate the Sahara Casino while the new owner, SBE Entertainment, worked to obtain their own license. [4]

In May 2009, Navegante joined with other partners in forming Aqueduct Entertainment Group to bid on the casino to be built at Aqueduct Race Track. The group won the bid on January 29, 2010. [5] The partners in Aqueduct Entertainment Group are: GreenStar Services Corporation, Turner Construction Company, Levine Builders, The Darman Group, Empowerment Development Corporation, PS&S Design, Siemens AG and Clairvest Group. [6]

In March 2012, the company was approved to operate the Hooters Casino Hotel, which was being bought out of bankruptcy by Canyon Capital Advisors. [1] In November 2012, Navegante took over management of the LVH – Las Vegas Hotel and Casino after it was bought at a foreclosure auction by Goldman Sachs and Gramercy Capital. [7]

Projects

Development

Casinos operating

Previous operations

Related Research Articles

<span class="mw-page-title-main">Westgate Las Vegas</span> Casino hotel in Las Vegas, Nevada

The Westgate Las Vegas Resort & Casino is a hotel, casino, and timeshare resort in Winchester, Nevada. Located near the northern end of the Las Vegas Strip, it is owned by Westgate Resorts. It opened in 1969 as the International Hotel, and was known for many years as the Las Vegas Hilton, then briefly as the LVH – Las Vegas Hotel and Casino. From 1981 to 1990, it was the largest hotel in the world.

Boyd Gaming Corporation is an American gaming and hospitality company based in Paradise, Nevada. The company continues to be run by founder Sam Boyd's family under the management of Sam's son, Bill Boyd, who currently serves as the company's executive chairman after retiring as CEO in January 2008.

<span class="mw-page-title-main">Genting Group</span> Malaysian conglomerate

The Genting Group is headquartered in Wisma Genting in Kuala Lumpur, Malaysia. The Group comprises the holding company Genting Berhad, its listed subsidiaries Genting Malaysia Berhad, Genting Plantations Berhad, Genting Singapore Plc, as well as its wholly owned subsidiary Genting Energy Limited.

<span class="mw-page-title-main">Sahara Las Vegas</span> Casino hotel in Las Vegas, Nevada

Sahara Las Vegas is a hotel and casino located on the Las Vegas Strip in Winchester, Nevada. It is owned and operated by the Meruelo Group. The hotel has 1,616 rooms, and the casino contains 50,662 square feet (4,706.7 m2). The Sahara anchors the northern end of the Las Vegas Strip, at the corner of Sahara Avenue. It is the site of the northernmost station of the Las Vegas Monorail.

Columbia Sussex is a privately owned hotel company based in Crestview Hills, Kentucky. The company, owned by the Yung family, owns and operates hotels in various parts of the United States. The current president and founder is William J. Yung III.

The Showboat Hotel and Casino, known as the Castaways Hotel and Casino from 2000-2004, was a hotel and casino located at the north end of the Boulder Strip in Las Vegas, Nevada. The hotel consisted of a 19 story tower containing 445 rooms, a casino and an adjacent RV park. The Castaways hotel was demolished on January 11, 2006 to make way for a new resort. However, construction never started on the project, and much of the property was redeveloped as the Showboat Park Apartments, opened in 2021.

<span class="mw-page-title-main">Oyo Hotel & Casino</span> Casino hotel in Las Vegas, Nevada

Oyo Hotel & Casino is a casino hotel near the Las Vegas Strip in Paradise, Nevada, United States. It is owned by Highgate and Oyo Hotels & Homes, and its casino is operated by Paragon Gaming. It is located next to the Tropicana and across the street from the MGM Grand Las Vegas. The hotel has 696 rooms with a 35,000-square-foot (3,300 m2) casino. Since opening in 1973, the property has been renamed several times, most recently as the Hôtel San Rémo (1989–2006) and the Hooters Casino Hotel (2006–2019).

1st Jackpot Casino Tunica is a casino and former hotel in Tunica Resorts, Mississippi. It is owned by Gaming and Leisure Properties and operated by Penn Entertainment. The casino has 46,535 square feet (4,323.2 m2) of gaming space, with 899 slot machines and 16 table games.

<span class="mw-page-title-main">Westin Las Vegas</span> Hotel in Nevada, United States

The Westin Las Vegas Hotel & Spa is a hotel and former casino near the Las Vegas Strip in Paradise, Nevada. The Westin is owned by Highgate and Cerberus Capital Management, and uses the Westin brand under franchise from Marriott International. It is noteworthy for being one of the first Las Vegas resorts to prohibit smoking in almost all parts of the property.

<span class="mw-page-title-main">Golden Nugget Lake Tahoe</span> Hotel and casino in Stateline, Nevada, US

Golden Nugget Lake Tahoe Hotel & Casino is a casino hotel in Stateline, Nevada. It is one of four major casino hotels in Stateline. Horizon Lake Tahoe closed on April 1, 2014, to begin a $60 million renovation and rebranding as Hard Rock Lake Tahoe, which held its grand opening on January 28, 2015. It has 539 hotel rooms and 22,750 square feet (2,114 m2) of gaming space, with 431 slot machines, 33 table games and a William Hill race and sports book.

Golden Entertainment is an American gaming company based in Enterprise, Nevada that operates casinos, taverns and slot routes. It was formed in 2015 by the merger of Golden Gaming and Lakes Entertainment. It is the largest tavern operator and largest slot route operator in Nevada. In October 2017, the company completed an $850 million acquisition of American Casino & Entertainment Properties. The company now has eight casino resorts, all located in Southern Nevada.

<span class="mw-page-title-main">Atlantic Club Casino Hotel</span> Closed casino and hotel in Atlantic City, New Jersey

The Atlantic Club Casino Hotel, formerly known as Golden Nugget, Bally's Grand, The Grand, Atlantic City Hilton and ACH, is an abandoned hotel and casino located at the southern end of the boardwalk in Atlantic City, New Jersey, owned and operated by Colony Capital. It was the city's first and only "locals casino". The Atlantic Club permanently closed on January 13, 2014, at 12:01 AM, largely as a result of dwindling casino visitors to Atlantic City due to increased competition in neighboring states. A third of Atlantic City's boardwalk casinos closed the same year, the others being Revel, Trump Plaza, and Showboat. Redevelopment proposals include a water park.

Archon Corporation is an entertainment company based in Laughlin, Nevada. The company has owned casinos and water parks. Members of board of directors include State Senator Sue Lowden who was chairwoman of the Nevada Republican Party and State Senator Bill Raggio. Lowden is also executive vice president, secretary and treasurer for the company.

<span class="mw-page-title-main">Ojos Locos Sports Cantina y Casino</span>

Ojos Locos Sports Cantina y Casino is a casino in North Las Vegas, Nevada. The property is owned and operated by Fifth Street Gaming. It includes an Ojos Locos sports bar and restaurant, as well as a 90-room hotel known as Hotel Jefe.

The LV Strip is one of the designated Nevada Gaming Control Boards reporting areas. It consists of the Las Vegas Strip casinos and many of the surrounding casinos. The Strip earns roughly 50% of the gaming revenue from all sources for the state of Nevada.

<span class="mw-page-title-main">The Montage Reno</span> Residential building in Nevada, United States

The Montage Reno is a high-rise residential building in Reno, Nevada. It previously operated as a hotel and casino from 1978 to 2005, under various names, including Sahara Reno, Reno Hilton, Flamingo Hilton Reno, Flamingo Reno, and Golden Phoenix Reno.

Alex Meruelo is a Cuban-American billionaire who holds business interests in banking, real estate, media, restaurants, food, casinos, and professional sports. He is the owner of Meruelo Group, as well as Meruelo Media, which owns five radio stations and two television stations in Los Angeles. In addition he is the owner of Fuji Food, two casinos, the Grand Sierra Resort in Reno, Nevada and the Sahara Las Vegas in Las Vegas and is the majority owner of the Arizona Coyotes of the National Hockey League.

<span class="mw-page-title-main">Sahara Boardwalk Hotel and Casino</span> Proposed casino hotel in New Jersey, US

The Sahara Boardwalk Hotel and Casino was a proposed hotel and casino that was to be built in the late 1970s and early 1980s in Atlantic City, New Jersey. The site of the proposed project was located at Albany Avenue and the Boardwalk, between the original Golden Nugget Hotel and Casino and the proposed Dunes Hotel and Casino project. However, because of financial and legal difficulties, construction of the hotel/casino was never completed and the site was sold in 1982.

<span class="mw-page-title-main">Ahern Hotel</span> Hotel in Las Vegas, US

Ahern Hotel and Convention Center is a boutique hotel and former casino in Las Vegas, Nevada. The resort is located on 2.5 acres (1.0 ha) of land at 300 West Sahara Avenue, near the Las Vegas Strip.

Paragon Gaming is a gaming company based in Enterprise, Nevada that owns and manages casinos in the United States and formerly in Canada.

References

  1. 1 2 Velotta, Richard N. (March 7, 2012). "Regulators question Jimmy Buffett about drug scrapes, endorse licensing request". Vegas Inc. Retrieved 2012-09-07.
  2. ↑ Navegante website
  3. ↑ http://www.tamares.com/content/english/press_releases/22_12_05.pdf [ dead link ]
  4. ↑ "SBE Entertainment takes over as owner of Sahara". Las Vegas Review-Journal . 2006-06-14. Retrieved 2008-04-14.
  5. ↑ Howard Stutz (2009-01-30). "Partnership that includes LV-based company wins NYC deal". Las Vegas Review-Journal .
  6. ↑ "Aqueduct Entertainment Group". Aqueduct Entertainment Group. 2009. Archived from the original on 2010-03-23. Retrieved 2010-01-30.
  7. ↑ Green, Steve (October 31, 2012). "LVH hotel-casino in Las Vegas sold at foreclosure auction". Vegas Inc. Retrieved 2012-11-01.
  8. ↑ "New $90 million casino for Moncton | building.ca". www.building.ca. Archived from the original on 2011-06-07.
  9. 1 2 3 4 5 6 "The Navegante Group. Casino Resort Development & Management". Archived from the original on 2008-03-14. Retrieved 2008-04-15.
  10. ↑ SPILLMAN, BENJAMIN (2007-06-12). "Dreary hotel to get revamp". Las Vegas Review-Journal . Retrieved 2008-04-14.
  11. ↑ Thomas Moore (October 13, 2016). "Hooters keeping the name amid management changes". Las Vegas Sun. Retrieved 2018-04-25.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.