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Paragon Gaming

{{Short description|Gaming company based in Enterprise, Nevada, US}}

Paragon Gaming is a gaming company based in Enterprise, Nevada that owns and manages casinos in the United States and formerly in Canada.

History

Paragon Gaming was founded in 2000 by cousins Diana Bennett and Scott Menke, who were experienced gaming executives and the daughter and nephew, respectively, of prominent casino owner William Bennett.{{cite news|title=How Scott Menke's gamble on Parq Vancouver hit the jackpot|newspaper=BCBusiness|author=Nick Rockel|date=October 20, 2017|url=https://www.bcbusiness.ca/How-Scott-Menkes-gamble-on-Parq-Vancouver-hit-the-jackpot|accessdate=2018-10-02}}{{cite news|title=Ladies first|newspaper=Global Gaming Business|date=August 28, 2017|url=https://ggbmagazine.com/article/ladies-first/|accessdate=2018-10-02}} The company began working with American Indian tribes, seeking opportunities to develop tribal casinos.{{cite news|title=Company hopes for casino in county|newspaper=Ventura County Star|author1=Kathleen Wilson|author2=Tamara Koehler|date=February 21, 2001|url=https://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0F7D912157AACABA&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}

In 2001, Paragon proposed to develop a casino at the Channel Islands Harbor in Oxnard, California on behalf of a yet-to-be-determined tribe.{{cite news|title=Casino supporter touts benefits|newspaper=Ventura County Star|author=Charles Levin|date=February 22, 2001|url=https://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0F7D911EA276C8B3&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}} In the face of opposition from local officials, the company withdrew the proposal and announced a new plan to build a casino at the Oxnard Factory Outlet with the Greenville Rancheria of Maidu Indians.{{cite news|title=2nd casino plan comes to Oxnard|newspaper=Ventura County Star|author=Raul Hernandez|date=March 15, 2001|url=https://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0F7D90E8F4B98D9A&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}{{cite news|title=Two groups join forces in casino bid|newspaper=Ventura County Star|author=Charles Levin|date=March 23, 2001|url=https://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0F7D90D48B0C3A04&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}} This plan, too, provoked strong opposition, and was rejected by the city council.{{cite news|title=Indians continue search for casino site|newspaper=Ventura County Star|author=Raul Hernandez|date=May 10, 2001|url=https://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F0F7D905E70D3526A&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}

Later in 2001, Paragon announced a deal to develop a casino near Palm Springs, California for the Augustine Band of Cahuilla Mission Indians.{{cite news|title=Las Vegas firm in pact for California Indian casino|newspaper=Las Vegas Sun|author=David Strow|date=August 30, 2001|url=https://lasvegassun.com/news/2001/aug/30/las-vegas-firm-in-pact-for-california-indian-casin/|accessdate=2018-10-02}} The project drew some attention because the tribe had only one adult member; critics questioned the seemliness of developers profiting from a casino that would benefit so few Indians.{{cite news|title=With one adult member, Indian tribe holds on to its roots|newspaper=Boston Globe|agency=Knight Ridder|author=James May|url=https://www.newspapers.com/clip/24226876/with_one_adult_member_indian_tribe/|via=Newspapers.com}}{{cite news|title=Indian casinos: Wheel of misfortune|newspaper=Time|author1=Donald L. Barlett|author2=James B. Steele|date=December 16, 2002|url=http://content.time.com/time/magazine/article/0,9171,1003896,00.html|accessdate=2018-10-02}} {{subscription required}}{{cite news|title=Interview: Donald Barlett and James Steele discuss their article in Time about Native American-owned casinos and who has been benefiting from the profits|newspaper=Fresh Air|author=Terry Gross|date=December 16, 2002|url=https://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F15751AE74CC685E8&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}} The Augustine Casino opened in 2002 at a cost of $16 million.{{cite news|title=Intimate new valley casino holds big opening night|newspaper=The Desert Sun|location=Palm Springs, CA|author=Benjamin Spillman|date=July 19, 2002|url=https://www.newspapers.com/clip/24226629/intimate_new_valley_casino_holds_big/|via=Newspapers.com}}

Meanwhile, the company worked with First Nations bands in Alberta to lobby for regulations that would allow tribes to open casinos. When those efforts succeeded in 2002, Paragon partnered with the Enoch Cree Nation to develop a casino hotel in Edmonton.{{cite news|title=Band takes a gamble|newspaper=Edmonton Sun|author=Timothy le Riche|date=March 2, 2002|url=https://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F14DCD7A689987B60&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}{{cite news|title=Casino proposal|newspaper=Edmonton Sun|author=Jerry Ward|date=June 20, 2002|url=https://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F14DCD87E7328E4B0&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}} The $178-million River Cree Resort and Casino opened in October 2006.{{cite news|title=Casino brings dollars, optimism to reserve|newspaper=Grove Examiner|author=Wes Gilbertson|date=November 3, 2006|url=https://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F14E5D198F09E1738&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}} Paragon operated and co-owned the casino until 2014, when the Enoch Cree bought out the company's interests.{{cite news|title=River Cree Casino fully Enoch-owned thanks to cross-border bond sales|newspaper=Alberta Sweetgrass|author=Shari Narine|date=February 2014|url=http://ammsa.com/publications/alberta-sweetgrass/river-cree-casino-fully-enoch-owned-thanks-cross-border-bond-sales|accessdate=2018-10-02}}{{cite news|title=Paragon Gaming's Vancouver casino project under construction after five-year wait|newspaper=Las Vegas Review-Journal|author=Howard Stutz|date=June 8, 2015|url=https://www.reviewjournal.com/business/casinos-gaming/paragon-gamings-vancouver-casino-project-under-construction-after-five-year-wait/|accessdate=2018-10-02}}

In September 2006, the company purchased the bankrupt Edgewater Casino, located at the Plaza of Nations in Vancouver, for $43 million.{{cite news|title=Las Vegas firm hopes to revive ailing Edgewater Casino|newspaper=Westender|location=Vancouver, BC|author=Sean Condon|date=October 19, 2006|url=https://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F114E06BCD59E4958&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}{{cite press release|title=Gateway Casinos Income Fund reports 2006 financial results|publisher=Gateway Casinos|date=March 15, 2007|url=http://www.marketwired.com/press-release/gateway-casinos-income-fund-reports-2006-financial-results-tsx-gci.un-640627.htm|accessdate=2018-10-02|via=MarketWired}}

In 2008, Paragon opened the Eagle River Casino and Travel Plaza at the Alexis Whitecourt Indian Reserve in northern Alberta.{{cite news|title=Whitecourt welcomes Eagle River Casino and Travel Plaza with celebratory opening|newspaper=Whitecourt Star|author=Karry Schmidt|date=February 6, 2008|url=https://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F14F00E4BD47559B8&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}} Paragon owned a 40 percent share of the property, with the Alexis First Nation owning the rest.{{cite news|title=Eagle River Casino seeks bankruptcy protection|newspaper=CBC|author1=Charles Rusnell|author2=Jennie Russell|date=January 24, 2014|url=https://www.cbc.ca/news/canada/edmonton/eagle-river-casino-seeks-bankruptcy-protection-1.2509921|accessdate=2018-10-03}} The casino's revenues fell short of expectations, and it went into bankruptcy by 2014; Paragon was left with no stake in it.{{cite news|title=Lucky number 7|newspaper=Whitecourt Star|author=Christopher King|date=February 11, 2015|url=https://infoweb.newsbank.com/resources/openurl?ctx_ver=z39.88-2004&rft_dat=document_id%3Anews%252F1536DFC9520A7438&rft_id=info%3Asid%2Finfoweb.newsbank.com&rft_val_format=info%3Aofi%2Ffmt%3Akev%3Amtx%3Actx&svc_dat=AWNB&req_dat=1028A39C75C2B899|via=NewsBank}}{{cite news|title=Why Edgewater casino could go bankrupt and leave us holding the bag|newspaper=Vancouver Observer|author=Sandy Garossino|date=November 27, 2014|url=https://www.vancouverobserver.com/opinion/why-edgewater-casino-could-go-bankrupt-and-leave-us-holding-bag|accessdate=2018-10-03}}

In 2013, Paragon assumed management of the struggling Riviera hotel and casino on the Las Vegas Strip on behalf of Starwood Capital.{{cite news|title=Company reviving Vegas' Riviera wins control board OK|newspaper=Las Vegas Review-Journal|author=Ed Komenda|date=September 10, 2014|url=https://www.reviewjournal.com/business/company-reviving-vegas-riviera-wins-control-board-ok/|accessdate=2018-10-02}} The Riviera closed in May 2015. Later that month, Paragon took over management of the nearby Westgate Las Vegas under a lease from Westgate Resorts.{{cite news|title=Paragon Gaming approved to take over Westgate Las Vegas operations|newspaper=Las Vegas Review-Journal|author=Howard Stutz|date=May 28, 2015|url=https://www.reviewjournal.com/business/casinos-gaming/paragon-gaming-approved-to-take-over-westgate-las-vegas-operations/|accessdate=2018-10-03}} The company transferred many of its employees and bookings from the Riviera to the Westgate.

In 2014, Paragon began construction of the Parq Vancouver, a $600-million hotel and casino complex at the BC Place stadium.{{cite news|title=Parq Vancouver Casino opens to crowds|newspaper=Business Vancouver|author1=Frank O'Brien|author2=Pat Johnson|date=October 3, 2017|url=https://biv.com/article/2017/10/parq-vancouver-casino-opens-crowds|accessdate=2018-10-02}} The Parq opened in 2017, and the Edgewater Casino, which it replaced, closed on the same day.{{cite news|title=Closed Edgewater Casino holds auction|newspaper=Global Gaming Business|date=November 11, 2017|url=https://ggbnews.com/article/closed-edgewater-casino-holds-auction/|accessdate=2018-10-02}} In 2019, Paragon sold its stake in the Parq to one of the property's other co-owners.{{cite news|title=Paragon Gaming sells its stake in Parq Vancouver casino|newspaper=The Province|location=Vancouver, BC|author=Scott Brown|date=February 1, 2019|url=https://theprovince.com/business/commercial-real-estate/paragon-gaming-sells-its-stake-in-parq-vancouver-casino/wcm/437eae60-52c3-4102-bda0-f7e82aa662bd|accessdate=2019-02-02}}

The company added two more Nevada casinos to its portfolio in 2016, assuming management of the Hooters Casino Hotel near the Las Vegas Strip and acquiring a majority stake in the Hard Rock Hotel & Casino Lake Tahoe.{{cite news|title=Hooters keeping the name amid management changes|newspaper=Las Vegas Sun|author=Thomas Moore|date=October 13, 2016|url=https://lasvegassun.com/news/2016/oct/13/hooters-changes-management-keeps-name/|accessdate=2018-10-03}}{{cite report|title=Location Details|publisher=Nevada Gaming Control Board|url=https://gcbmobile.nv.gov/reports/Report/LDRReportWeb?rnseq=MDI4MDctMTIwLjg3MzEyMDcxOTUyMTA1NzQ=|accessdate=2018-10-03}}{{cite news|title=Paragon Gaming recommended to acquire Hard Rock Hotel at Lake Tahoe|newspaper=Las Vegas Review-Journal|author=Richard N. Velotta|date=November 2, 2016|url=https://www.reviewjournal.com/business/casinos-gaming/paragon-gaming-recommended-to-acquire-hard-rock-hotel-at-lake-tahoe/|accessdate=2018-10-03}}{{cite web|title=Nevada Gaming Commission Minutes|date=November 17, 2016|pages=6–8|url=https://gaming.nv.gov/modules/showdocument.aspx?documentid=11657|accessdate=2018-10-03}}

Paragon's management contract at the Westgate ended in 2020.{{cite news|title=Ex-gaming board chairman's company to manage Westgate casino|work=Las Vegas Review-Journal|author=Richard N. Velotta|date=July 30, 2020|url=https://www.reviewjournal.com/business/casinos-gaming/ex-gaming-board-chairmans-company-to-manage-westgate-casino-2084578/|access-date=2021-11-28}}

In 2023, Paragon sold the Hard Rock in Lake Tahoe to Fertitta Entertainment.{{cite news|title=Fertitta: Golden Nugget Lake Tahoe will rise from rebranded Hard Rock in 30 days|work=The Nevada Independent|author=Howard Stutz|date=March 25, 2023|url=https://thenevadaindependent.com/article/fertitta-golden-nugget-lake-tahoe-will-rise-from-rebranded-hard-rock-in-30-days|access-date=2023-09-16}}

Properties

The properties owned or managed by Paragon are:

=Former properties=

References

{{reflist}}

External links

  • {{official website|http://paragongaming.com/|Paragon Gaming}}

Category:Gambling companies of the United States

Category:Companies based in Enterprise, Nevada

Category:American companies established in 2000