Photo Courtesy (Nevada Casino History)
The Grand Lodge Casino inside the Hyatt Lake Tahoe will be changing hands in a few months. Full House Resorts (nyse amex us:FLL) recently announced it has entered into a five-year lease agreement with Hyatt Equities L.L.C. for the Grand Lodge Casino and the company will pay a fixed monthly rent of $125,000 over the initial term of the lease.
Full House runs several other casino operations and anticipates a successful transition for the small casino at Lake Tahoe. 2010 saw approximately $12.5 million in net gaming revenue at the casino, including the lakes oldest continuing poker room.
Currently the poker room features four tables that get cranked-up about 7 p.m. each evening. Two or three of the games are $1-$2 blind No-Limit Texas Hold-em with a $100 minimum buy-in and a $200 max but-in.
Continuing with a tradition of funky - not often spread games, the other table (sometimes two) is usually a $10-$20 limit Crazy Pineapple Omaha High-Low Split game. The action was good this week, although I played only in the no-limit hold'em game.
Most pots were three or four-handed and some saw the flop for just $2. The standard raise in the game was to $7, although an occasional $12 was seen. Overall the games were lively and friendly with a 50-50 mix of locals and tourists. Enjoy!
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