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Deyan Dimitrov April 10, 2023 3 min read
Historic Cal Neva Resort to Reopen under New Management
Real estate developer McWhinney has recently announced plans to renovate the famous property, restoring its status as a premier entertainment and hospitality destination
The iconic resort has a rich history dating back to the 1920s and was one of the region’s leading casino resorts until closing down in 2013 amidst renovations. McWhinney’s substantial industry experience will be instrumental in restoring Cal Neva, updating it to reflect the needs of modern customers while retaining its historical value.
Recent Years Have Been Unkind to the Famous Resort
Cal Neva Resort & Casino’s long and storied history began in 1926. The venue was a luxurious retreat for Hollywood celebrities like Sammy Davis Jr, Tony Bennett, and Marilyn Monroe. The following years saw several renovations and additions until Frank Sinatra purchased the property in 1960, turning it into a gambling and entertainment hub.
Luxurious accommodations, a live performance showroom, and a casino with slot machines and table games cemented Cal Neva’s status as a premiere destination among tourists and locals. However, the venue closed for renovations in 2013, and its owner filed for bankruptcy. Another developer then purchased the property, planning to renovate and reopen the resort and casino, but failed to deliver.
Guests Will Enjoy a One-of-a-Kind Experience
Cal Neva’s recent purchase by McWhinney may be just what the historic casino resort needs to recapture its former popularity. The company has a track record of successful real estate development projects, including hospitality, commercial, and residential properties. McWhinney’s cooperation with real estate firm the Kor Group and high-end luxury operator Proper Hospitality. should allow it to maximize the property’s untapped potential.
McWhinney reportedly purchased the historic venue for roughly $58 million, but the upcoming extensive remodeling efforts will likely cost significantly more. Company co-founder, chairman, and CEO Chad McWhinney noted that Cal Neva presented a unique opportunity to revive a beloved property, preserving its historical significance for future visitors.
Our vision is to reimagine and revitalize this iconic resort… into an exceptional experience for guests and the local community to enjoy for years to come.Chad McWhinney, McWhinney co-founder, chairman, and CEO
The developer did not disclose much concrete information regarding the upcoming remodeling, only noting it will offer a premiere spa and wellness experience, modernizing the hotel while preserving Cal Neva’s distinct atmosphere and iconic fixtures like the Frank Sinatra Showroom and historic Indian Room. Future guests should be able to enjoy luxurious accommodations, varied dining and entertainment options, and a modern casino with the latest slot machines and table games.
Lake Tahoe is a popular outdoor recreation destination, so Cal Neva’s revival should provide another attraction for tourists. The developers promised to treat the property with the necessary respect, tailoring the guest experience to the historic location and creating lasting value for the local community. Such sentiment is a promising sign for the future of the Cal Neva Resort & Casino, hopefully adding another successful chapter to its rich history and legacy.