A well-known gaming property in downtown Las Vegas is being prepared for a potential ownership change after its operators failed to meet major debt obligations tied to a large construction loan.
$90M Loan Default Pushes Downtown Grand Toward Sale
The Downtown Grand Hotel and Casino has been under court supervision since early January, following a legal move by its lender, Banc of California. The bank started proceedings after claiming that the casino’s ownership group stopped making required interest payments in March 2025 and did not settle the debt when it reached maturity later that year, as reported by The Las Vegas Review-Journal.
Court filings show that a receiver, Paul Huygens, was appointed to take control of the…