Tech giant revives deal for Sinatra’s old Tahoe casino
By Dale Kasler, Sacramento Bee
When it comes to splashy real estate deals, Silicon Valley icon Larry Ellison usually gets what he wants. Frank Sinatra’s old Lake Tahoe casino, the Cal Neva, is no exception.
After threatening to back out because of delays, Ellison is ready to move forward with his $35.8 million purchase of the bankrupt Cal Neva Resort & Casino on Tahoe’s north shore. Lawyers for Ellison and others connected to the Cal Neva bankruptcy filed court papers Tuesday revealing that Ellison is ready to buy the faded resort as long as he can wrap up the deal by Jan. 10.
The Cal Neva has been closed since 2013.