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November 24, 2009

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Commission OKs ex-baseball owner’s purchase of casino

Thursday, Dec. 21, 2000 | 11:14 a.m.

CARSON CITY -- Richard Jacobs, whose business ventures have included hotels, office buildings, malls, casinos and the Cleveland Indians baseball team, was licensed Wednesday to own a Reno hotel-casino.

The Nevada Gaming Commission unanimously approved Jacobs' $26.5 million acquisition of the slots-only Gold Dust West -- after praising him for investing in a Nevada market that's threatened by Indian gambling in neighboring California.

Stephen Roark, president of Jacobs' Black Hawk Gaming & Development Co., said many properties in Nevada and other states were checked out before the Gold Dust deal was made.

Roark said the decision to buy the club was based on the price, location and Black Hawk's goal of expanding its casino ventures from Black Hawk, Colo., to another jurisdiction.

Roark also said profits from the Reno venture would be pumped back into the 4.6-acre property, and some upgrading is being discussed.

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