March 9, 2014
Now the deal goes before the state Gaming Commission...for a final vote.
Grand Sierra needs gaming approval to take over...and complete the purchase of the property by June 23rd.
In the past year, developers have been working with the city to complete re-zone the 145 acres.
They've created a "new" plan for the top 11 floors...converting those rooms into condos.
So far, Grand Sierra has sold 350 units...and expect to be sold out by September.
The company has hired an interior designer for *all of the 1170 rooms.
The total sale of the property was 151-million dollars.
The first phase will include the condo-hotel room conversions, bringing in new restaurants, and renovating the lobby space and the front desk.
Developers say all of what we talked about...could be completed over the next few years, including the world's largest indoor waterpark.