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The Golden Gate, Las Vegas' oldest hotel and casino, established in 1906, has sold a 50% interest in the company. Owner Mark Brandenburg stated that he has sold one-half of his interest to Desert Rock/Golden Gate, a Nevada investment company, owned by brothers Derek Stevens and Greg Stevens. "This is a major event in the history of the Golden Gate," said Brandenburg. "At a time when downtown is undergoing a dramatic transformation, this new partnership will provide the Golden Gate with the kind of financial resources and expertise that are not often available to a small property like ours. It will open the door to many exciting opportunities for us."
Derek Stevens, CEO of Desert Rock, said "We were attracted to Las Vegas because of its relentless growth. We were attracted to the Golden Gate because of its unique role in the history of Las Vegas, its roots as a family-run business, and its potential to become a major factor in the renaissance of the most unique urban center in the world."
The Golden Gate only recently replaced its coin-operated slot machines with ticket-in, ticket-out games and started a slot club, named Club 1906 in tribute to the year of the hotel's opening. Plans for the future are focused on developing the property as a boutique hotel that preserves the property's historic character while meeting visitor expectations for a contemporary Las Vegas experience.
"To ensure that our remodeling embraces state-of-the-art features while staying true to the building's historic beauty, we have partnered with Heather Marnell Interiors," said Brandenburg. "Heather and her design team have developed custom designs with art nouveau themes for our hotel rooms and casino floor."
By August 2008, the Golden Gate expects to offer guests downtown's only boutique hotel and casino with all newly-remodeled rooms and a newly-remodeled casino floor.
"Most importantly," said Brandenburg, "our family-owned hotel-casino will continue to offer an intimate environment where personalized attention and smiling service are not just perks for high rollers."
Golden Gate Hotel and Casino
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