It has been nine months since the Cal Neva Lodge & Casino owners have filed bankruptcy on the Nevada property and not much has changed in the way of getting the venue back on track for business. The casino resort was once owned by Frank Sinatra and has a colorful history, but today cannot seem to gain any ground, remaining vacant with the property fenced-off.
The Truckee North Tahoe Transportation Management Association recently met and according to the Sierra Sun, Kristina Hill, a representative of Incline Village was on hand, stating that there is still interest in the venue. Reportedly Hill continues to receive many calls about Cal Neva as people remain interested in the property. Hill is unsure as to what to say. In an email to the news outlet, Hill stated that she knows the property is in bankruptcy court in Reno and potential buyers have been calling her and asking questions but she does not know the status of ownership.
The property has a long history in the gaming industry, with Frank Sinatra owning the venue back in the 60s and eventually leasing the casino resort out to property investors. In 2013, Criswell Radovan, a real estate firm based in Napa Valley purchased the property and closed it to begin renovations. In the years that followed, grand opening dates were set only to be rescheduled again and again. The resort never reopened and in 2015, construction workers reportedly left the job site due to payment issues. In June 2016, the Criswell Radovan Company filed for bankruptcy.
The reason for the delays stems from the bankruptcy filing taking place in California where the real estate company is located. Delays have continued to occur ever since with court documents showing that a dispute arose over the attorney that is representing the company. A motion was then put in place to move the case to Reno.
Last week, workers were on site removing items from the interior of the resort and loading them for storage. Also this week, a notice was filed to schedule a hearing for May 2nd to gain approval for the creditors’ joint disclosure statement.