Ascuaga family sells Sparks Nugget

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Ascuaga family sells Sparks Nugget

Nugget

John Ascuaga's Nugget has been sold. Under new owners, the casino and hotel will continue hosting major Reno events like Hot August Nights.

The Ascuaga family has sold the Nugget casino in Sparks after more than 50 years of family ownership.

Global Gaming & Hospitality, a private casino management firm, has bought John Ascuaga's Nugget. Chief Operating Officer Stephen Ascuaga says it was an emotional decision for his family, but the financial resources of the new owners will sustain the business for decades to come.

"The plan is to have $50 million invested into the property. In the first 18-24 months, you're going to see $20 million deployed in every area that's going to touch the customer--down on the casino floor, hotel rooms, some restaurant reconfigurations."

The last major renovation at the Nugget was a $20 million upgrade to the East Tower back in 2007.

The Nugget is the largest employer in Sparks with 1,300 workers.