Wikipedia

Paragon Gaming

Paragon Gaming is a gaming company based in Enterprise, Nevada that owns and manages casinos in the United States and formerly in Canada.

History

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Paragon Gaming was founded in 2000 by cousins Diana Bennett and Scott Menke, who were experienced gaming executives and the daughter and nephew, respectively, of prominent casino owner William Bennett.[1][2] The company began working with American Indian tribes, seeking opportunities to develop tribal casinos.[3]

In 2001, Paragon proposed to develop a casino at the Channel Islands Harbor in Oxnard, California on behalf of a yet-to-be-determined tribe.[4] In the face of opposition from local officials, the company withdrew the proposal and announced a new plan to build a casino at the Oxnard Factory Outlet with the Greenville Rancheria of Maidu Indians.[5][6] This plan, too, provoked strong opposition, and was rejected by the city council.[7]

Later in 2001, Paragon announced a deal to develop a casino near Palm Springs, California for the Augustine Band of Cahuilla Mission Indians.[8] The project drew some attention because the tribe had only one adult member; critics questioned the seemliness of developers profiting from a casino that would benefit so few Indians.[9][10][11] The Augustine Casino opened in 2002 at a cost of $16 million.[12]

Meanwhile, the company worked with First Nations bands in Alberta to lobby for regulations that would allow tribes to open casinos.[8] When those efforts succeeded in 2002, Paragon partnered with the Enoch Cree Nation to develop a casino hotel in Edmonton.[13][14] The $178-million River Cree Resort and Casino opened in October 2006.[15] Paragon operated and co-owned the casino until 2014, when the Enoch Cree bought out the company's interests.[16][17]

In September 2006, the company purchased the bankrupt Edgewater Casino, located at the Plaza of Nations in Vancouver, for $43 million.[18][19]

In 2008, Paragon opened the Eagle River Casino and Travel Plaza at the Alexis Whitecourt Indian Reserve in northern Alberta.[20] Paragon owned a 40 percent share of the property, with the Alexis First Nation owning the rest.[21] The casino's revenues fell short of expectations, and it went into bankruptcy by 2014; Paragon was left with no stake in it.[21][22][23]

In 2013, Paragon assumed management of the struggling Riviera hotel and casino on the Las Vegas Strip on behalf of Starwood Capital.[24] The Riviera closed in May 2015. Later that month, Paragon took over management of the nearby Westgate Las Vegas under a lease from Westgate Resorts.[25] The company transferred many of its employees and bookings from the Riviera to the Westgate.[25]

In 2014, Paragon began construction of the Parq Vancouver, a $600-million hotel and casino complex at the BC Place stadium.[1][26] The Parq opened in 2017, and the Edgewater Casino, which it replaced, closed on the same day.[27] In 2019, Paragon sold its stake in the Parq to one of the property's other co-owners.[28]

The company added two more Nevada casinos to its portfolio in 2016, assuming management of the Hooters Casino Hotel near the Las Vegas Strip and acquiring a majority stake in the Hard Rock Hotel & Casino Lake Tahoe.[29][30][31][32]

Paragon's management contract at the Westgate ended in 2020.[33]

In 2023, Paragon sold the Hard Rock in Lake Tahoe to Fertitta Entertainment.[34]

Properties

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The properties owned or managed by Paragon are:

Former properties

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References

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  1. ^ a b Nick Rockel (October 20, 2017). "How Scott Menke's gamble on Parq Vancouver hit the jackpot". BCBusiness. Retrieved 2018-10-02.
  2. ^ "Ladies first". Global Gaming Business. August 28, 2017. Retrieved 2018-10-02.
  3. ^ Kathleen Wilson; Tamara Koehler (February 21, 2001). "Company hopes for casino in county". Ventura County Star – via NewsBank.
  4. ^ Charles Levin (February 22, 2001). "Casino supporter touts benefits". Ventura County Star – via NewsBank.
  5. ^ Raul Hernandez (March 15, 2001). "2nd casino plan comes to Oxnard". Ventura County Star – via NewsBank.
  6. ^ Charles Levin (March 23, 2001). "Two groups join forces in casino bid". Ventura County Star – via NewsBank.
  7. ^ Raul Hernandez (May 10, 2001). "Indians continue search for casino site". Ventura County Star – via NewsBank.
  8. ^ a b David Strow (August 30, 2001). "Las Vegas firm in pact for California Indian casino". Las Vegas Sun. Retrieved 2018-10-02.
  9. ^ James May. "With one adult member, Indian tribe holds on to its roots". Boston Globe. Knight Ridder – via Newspapers.com.
  10. ^ Donald L. Barlett; James B. Steele (December 16, 2002). "Indian casinos: Wheel of misfortune". Time. Retrieved 2018-10-02. (subscription required)
  11. ^ Terry Gross (December 16, 2002). "Interview: Donald Barlett and James Steele discuss their article in Time about Native American-owned casinos and who has been benefiting from the profits". Fresh Air – via NewsBank.
  12. ^ Benjamin Spillman (July 19, 2002). "Intimate new valley casino holds big opening night". The Desert Sun. Palm Springs, CA – via Newspapers.com.
  13. ^ Timothy le Riche (March 2, 2002). "Band takes a gamble". Edmonton Sun – via NewsBank.
  14. ^ Jerry Ward (June 20, 2002). "Casino proposal". Edmonton Sun – via NewsBank.
  15. ^ Wes Gilbertson (November 3, 2006). "Casino brings dollars, optimism to reserve". Grove Examiner – via NewsBank.
  16. ^ Shari Narine (February 2014). "River Cree Casino fully Enoch-owned thanks to cross-border bond sales". Alberta Sweetgrass. Retrieved 2018-10-02.
  17. ^ Howard Stutz (June 8, 2015). "Paragon Gaming's Vancouver casino project under construction after five-year wait". Las Vegas Review-Journal. Retrieved 2018-10-02.
  18. ^ Sean Condon (October 19, 2006). "Las Vegas firm hopes to revive ailing Edgewater Casino". Westender. Vancouver, BC – via NewsBank.
  19. ^ "Gateway Casinos Income Fund reports 2006 financial results" (Press release). Gateway Casinos. March 15, 2007. Retrieved 2018-10-02 – via MarketWired.
  20. ^ Karry Schmidt (February 6, 2008). "Whitecourt welcomes Eagle River Casino and Travel Plaza with celebratory opening". Whitecourt Star – via NewsBank.
  21. ^ a b Charles Rusnell; Jennie Russell (January 24, 2014). "Eagle River Casino seeks bankruptcy protection". CBC. Retrieved 2018-10-03.
  22. ^ Christopher King (February 11, 2015). "Lucky number 7". Whitecourt Star – via NewsBank.
  23. ^ Sandy Garossino (November 27, 2014). "Why Edgewater casino could go bankrupt and leave us holding the bag". Vancouver Observer. Retrieved 2018-10-03.
  24. ^ Ed Komenda (September 10, 2014). "Company reviving Vegas' Riviera wins control board OK". Las Vegas Review-Journal. Retrieved 2018-10-02.
  25. ^ a b Howard Stutz (May 28, 2015). "Paragon Gaming approved to take over Westgate Las Vegas operations". Las Vegas Review-Journal. Retrieved 2018-10-03.
  26. ^ Frank O'Brien; Pat Johnson (October 3, 2017). "Parq Vancouver Casino opens to crowds". Business Vancouver. Retrieved 2018-10-02.
  27. ^ "Closed Edgewater Casino holds auction". Global Gaming Business. November 11, 2017. Retrieved 2018-10-02.
  28. ^ Scott Brown (February 1, 2019). "Paragon Gaming sells its stake in Parq Vancouver casino". The Province. Vancouver, BC. Retrieved 2019-02-02.
  29. ^ Thomas Moore (October 13, 2016). "Hooters keeping the name amid management changes". Las Vegas Sun. Retrieved 2018-10-03.
  30. ^ Location Details (Report). Nevada Gaming Control Board. Retrieved 2018-10-03.
  31. ^ Richard N. Velotta (November 2, 2016). "Paragon Gaming recommended to acquire Hard Rock Hotel at Lake Tahoe". Las Vegas Review-Journal. Retrieved 2018-10-03.
  32. ^ "Nevada Gaming Commission Minutes". November 17, 2016. pp. 6–8. Retrieved 2018-10-03.
  33. ^ Richard N. Velotta (July 30, 2020). "Ex-gaming board chairman's company to manage Westgate casino". Las Vegas Review-Journal. Retrieved 2021-11-28.
  34. ^ Howard Stutz (March 25, 2023). "Fertitta: Golden Nugget Lake Tahoe will rise from rebranded Hard Rock in 30 days". The Nevada Independent. Retrieved 2023-09-16.
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