The founder of Oracle Corporation Larry Ellison is purchasing the historic but rundown Cal Neva Resort & Casino for 35.8 million dollars. He was the only bidder for the aging hotel and casino since it’s series of owners since its famous Sinatra days. The building has sat vacant for the last 4 years, and it truly is a shame to see when you drive by. I’m surprised that it remained empty for as long as it did, it truly is a hidden historic Tahoe gem.
Supposedly this is not Ellison’s first rodeo in the hospitality business. He bough the Hawaiian island Lanai in 2012 for 500 million dollars. He also owns Porcupine Creek Estate, and countless other properties around Tahoe, Malibi, San Francisco and Woodside.
Originally built in 1926 the Cal Neva is located half way between California and Nevada border. “Sinatra initially bought a stake in the property in the 1950s and expanded his ownership to more than 50 percent by the early ’60s. Sinatra built the Celebrity Room theater, added a rooftop helipad and reportedly reopened Prohibition-era tunnels to allow members of the mob to slink around the resort unseen.
In its heyday, the inn hosted lavish parties and attracted some of Hollywood’s biggest stars, including Clara Bow, Judy Garland and Lucille Ball. Marilyn Monroe reportedly attempted suicide at the hotel a week before her death in 1962.” Sac Bee Marlize van Romburgh
Contact Carmen Carr for more details about the news and happenings in the Truckee, North Lake Tahoe.