New owners take over Fitzgeralds Las Vegas hotel - FOX5 Vegas - KVVU

New owners take over Fitzgeralds Las Vegas hotel

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LAS VEGAS (FOX5) -

The new owners of Fitzgeralds Casino and Hotel officially announced their acquisition of the downtown Las Vegas property Wednesday, bringing it and another Fremont Street Experience property under common ownership.

New owners Desert Rock Enterprises, which is operated by brothers Derek and Gregory Stevens, made the announcement.

The investment company also holds a majority ownership in the Golden Gate Casino, which is located at the west end of the Fremont Street Experience.

Desert Rock purchased Fitzgeralds from Barden Nevada, which is a subsidiary of limited-liability company Majestic Star Casino.

Casino officials did not disclose a purchase price in the acquisition.

Majestic Star Casino bought Fitzgeralds Las Vegas and two of its sister properties in Colorado and Mississippi in 2001 in the midst of bankruptcy by Fitz's founders Fitzgeralds Gaming.

The company later spun-off management for the property into Barden Nevada, named after Majestic Star's founder Don Barden.

The company reportedly filed bankruptcy in 2009 with Fitzgeralds Las Vegas up for sale.

Desert Rock CEO Derek Stevens said the company has plans to renovate 31-story, 638-room hotel in the near future.

"We are proud to be a part of the rejuvenation of Downtown Las Vegas," Stevens said. "We will upgrade our properties to bring in new players, but keep the charm and vintage quality that our loyal customers love and enjoy."

The Golden Gate Casino is currently undergoing upgrades, the company said.

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