Cal Neva Resort & Casino to reopen this year

Cal Neva Resort will offer a refurbished non-smoking casino with table games and slot machines, as well as three restaurants.

Further, the resort’s theatre that was originally imagined and built by Sinatra and known for years as the Frank Sinatra Ballroom, will be restored and upgraded to serve at Tahoe’s preeminent entertainment venue.

Built in 1926, the resort rose to fame as an iconic location for infamous mobsters, politicians and celebrities to enjoy the casino’s popular gaming throughout the decades until falling into disrepair in the early part of the 21st century. Napa Valley-based real estate developer Criswell Radovan has undertaken a full interior and exterior renovation of the property.

Company co-owner Robert Radovan previously said a December 12, 2014, reopening was originally eyed to coincide with what would have been Sinatra’s 99th birthday. However, various financing and construction issues delayed the reopening and it will instead reopen on the same year Sinatra’s 100th birthday.

In November, Texas-based Hall Structured Finance announced the company recently closed a $29m loan in connection with the property overhaul. According to media reports, on top of the $29m loan, Criswell Radovan also has lined $20m in equity, for a total financial package of $49m.

Work began again at the property in late October, with Las Vegas-based Penta Construction continuing to lead the project. According to company officials, approximately 300 jobs will be created upon the resort’s reopening, many of which will be filled by local employees.