LAKE TAHOE, Nev. - When Larry Ellison, the founder of Oracle Corp., spent $35.8 million in 2017 to buy the Cal Neva Lodge in bankruptcy court, many hoped he d bring his Midas touch to Lake Tahoe and the aging resort.
LAKE TAHOE, Nev. - When Larry Ellison, the founder of Oracle Corp., spent $35.8 million in 2017 to buy the Cal Neva Lodge in bankruptcy court, many hoped he d bring his Midas touch to Lake Tahoe and the aging resort.
A renowned and historic resort perched on Lake Tahoe's north shore has been bought and is headed for a wide-ranging revamp in a deal that bestowed a tidy profit on the property's seller, tech tycoon Lawrence Ellison.
Having decayed on the shores of North Lake Tahoe for 10 years, the famous Cal Neva casino resort is due to be reimagined into a boutique hotel by new owners.
When Larry Ellison, the founder of Oracle Corp., spent $35.8 million in 2017 to buy the Cal Neva Lodge in bankruptcy court, many hoped he d bring his Midas touch to Lake Tahoe and the aging resort.