"My family and I believe that the sale of John Ascuaga's Nugget at this time is the best possible scenario for our employees and the future of the Nugget. The new owners have the financial resources needed to invest in the property and allow it -- and its 1,300 employees -- to prosper in the years ahead," said Michonne Ascuaga, the current CEO of John Ascuaga's Nugget. "We are extremely proud of the business we've built and the contributions to the community we've made over the past 58 years."
GGH co-owner, Carlton Geer, will become the Nugget's president and CEO once the sale is finalized. GGH currently works financially with the CalNeva Hotel and Casino and the Station casinos in Las Vegas.
GGH will invest $50 million within the next five years into renovations at the Nugget, updating such areas as the casino floor, convention spaces and restaurants. Geer said the Nugget change for the better, incorporating new ideas with exciting concepts.
Followers of the Sparks Tribune Facebook page posted their disappointment. "That's too bad," one follower wrote. "End of a great era."
Geer reassures the public that the Nugget is not going anywhere- the hotel and casino are here to stay.
"People should not fear change," Geer said in an interview Thursday. "We're making our product better for the Sparks community and the employees here at the Nugget."
As stated on Thursday's press release, "According to GGH, the name John Ascuaga’s Nugget will remain in the near term, with a potential name change in the future. Nugget customer programs, such as John’s Club will remain intact. No lay-offs are planned as a result of the sale and current employees will retain their seniority and benefits. The Nugget's premier special events like the Best in the West Nugget Rib Cook-Off and Star Spangled Sparks will also carry on."
The sale of the Nugget must be approved by the Nevada Gaming Board and is expected to close by the start of 2014. The Ascuaga family will remain in control of the Nugget until its sale finalizes and closes.
For more information about John Ascuaga's Nugget, visit www.janugget.com.