{{Short description|Gaming company in Nevada}} {{infobox company |name=Navegante Group |logo = |logo_size = | logo_alt = | logo_caption = | logo_padding = | image = | image_size = | image_alt = | image_caption = | trading_name = | native_name = | native_name_lang = <!-- Use ISO 639-1 code, e.g. "fr" for French. For multiple names in different languages, use {{Lang|[code]|[name]}}. --> | romanized_name = | former_name = | traded_as = | ISIN = | genre = | fate = | predecessor = <!-- or: | predecessors = --> | successor = <!-- or: | successors = --> |type= |industry=Gaming |foundation=1996 |location=Paradise, Nevada | founder = Larry J. Woolf | defunct = <!-- {{End date|YYYY|MM|DD}} --> | num_locations = | num_locations_year = <!-- Year of num_locations data (if known) --> | area_served = | key_people = | products = hotel casinos | brands = | production = | production_year = <!-- Year of production data (if known) --> | services = | revenue = | revenue_year = <!-- Year of revenue data (if known) --> | operating_income = | income_year = <!-- Year of operating_income data (if known) --> | net_income = <!-- or: | profit = --> | net_income_year = <!-- or: | profit_year = --><!-- Year of net_income/profit data (if known) --> | aum = <!-- Only for financial-service companies --> | assets = | assets_year = <!-- Year of assets data (if known) --> | equity = | equity_year = <!-- Year of equity data (if known) --> | owner = <!-- or: | owners = --> | members = | members_year = <!-- Year of members data (if known) --> | num_employees = | num_employees_year = <!-- Year of num_employees data (if known) --> | parent = | divisions = | subsid = | module = <!-- Used to embed other templates --> | ratio = <!-- Basel III ratio, for BANKS ONLY --> | rating = <!-- credit rating, for BANKS ONLY --> |website= {{official website|http://www.navegantegroup.com/|Navegante Group}} }} The '''Navegante Group''' is a gaming company based in Paradise, Nevada, specializing in areas of casino management, development, consulting and executive recruitment. It is often retained to manage distressed properties while new owners seek a gaming license.<ref name=velotta>{{cite news|title=Regulators question Jimmy Buffett about drug scrapes, endorse licensing request|newspaper=Vegas Inc|first=Richard N.|last=Velotta|url=http://www.vegasinc.com/news/2012/mar/07/regulators-question-jimmy-buffett-about-drug-scrap/|date=March 7, 2012|access-date=2012-09-07}}</ref>
== History == After six years as the chairman, President and CEO of MGM Grand Casino in Las Vegas, Larry J. Woolf formed Navegante. Navegante's first major development and management contract was Casino Niagara in 1996.<ref>Navegante website</ref>
When the Ontario government pursued development of casino gaming in Niagara Falls, Canada in 1996, officials selected 27 potential development groups including three publicly traded companies. The Niagara plan called for a temporary gaming facility under tight construction time frames. In June, Navegante was selected to head construction and development of their first casino with a planned opening scheduled for December of that year. To meet this deadline, construction ran 24 hours a day, 7 days a week. As Navegante had projected, the property generated $2 million per day in revenue and $1 million per day in profit. The government of Ontario received its investment back in 180 days. Upon opening, Casino Niagara was known, in the industry, as being the most profitable casino operation, on a square foot basis, in the world.
In 2005 Navegante was contracted by Tamaras Group to take over the existing operations as the lessee/manager of four hotel/casino properties in downtown Las Vegas: the Plaza, Las Vegas Club, Western and Gold Spike.<ref>http://www.tamares.com/content/english/press_releases/22_12_05.pdf {{Dead link|date=February 2022}}</ref> Navegante, in conjunction with Tamaras, was responsible for a rapid and dramatic turnaround, taking the properties from major losses to positive cash flow. In May 2007, Navegante provided Tamaras with notice of termination of the lease agreements. In 2008, operations of these casinos were transitioned to another company.
On August 1, 2007, Navegante was approved to operate the Sahara Casino while the new owner, SBE Entertainment, worked to obtain their own license.<ref>{{cite news |title= SBE Entertainment takes over as owner of Sahara |url= http://www.lvrj.com/business/8869382.html |work= Las Vegas Review-Journal |date=2006-06-14 |access-date=2008-04-14 }}</ref>
In May 2009, Navegante joined with other partners in forming Aqueduct Entertainment Group to bid on the casino to be built at Aqueduct Race Track. The group won the bid on January 29, 2010.<ref>{{cite news |title=Partnership that includes LV-based company wins NYC deal |author=Howard Stutz |newspaper=Las Vegas Review-Journal |date=2009-01-30 |url=http://www.lvrj.com/business/partnership-that-includes-lv-based-company-wins-nyc-deal-83128182.html }}</ref> The partners in Aqueduct Entertainment Group are: GreenStar Services Corporation, Turner Construction Company, Levine Builders, The Darman Group, Empowerment Development Corporation, PS&S Design, Siemens AG and Clairvest Group.<ref>{{cite web |url=http://www.aqueductentertainment.com/partners.php |title=Aqueduct Entertainment Group |date=2009 |publisher=Aqueduct Entertainment Group |access-date=2010-01-30 |url-status=dead |archive-url=https://web.archive.org/web/20100323224110/http://www.aqueductentertainment.com/partners.php |archive-date=2010-03-23 }}</ref>
In March 2012, the company was approved to operate the Hooters Casino Hotel, which was being bought out of bankruptcy by Canyon Capital Advisors.<ref name=velotta /> In November 2012, Navegante took over management of the LVH – Las Vegas Hotel and Casino after it was bought at a foreclosure auction by Goldman Sachs and Gramercy Capital.<ref>{{cite news|title=LVH hotel-casino in Las Vegas sold at foreclosure auction|newspaper=Vegas Inc|first=Steve|last=Green|date=October 31, 2012|access-date=2012-11-01|url=http://www.vegasinc.com/news/2012/oct/31/lvh-hotel-casino-las-vegas-sold-foreclosure-auctio/}}</ref>
== Projects == ===Development === * Casino New Brunswick, Canada<ref>{{cite web |url=http://www.building.ca/issues/story.aspx?aid=1000224326 |title=New $90 million casino for Moncton {{!}} building.ca |website=www.building.ca |url-status=dead |archive-url=https://web.archive.org/web/20110607103508/http://www.building.ca/issues/story.aspx?aid=1000224326 |archive-date=2011-06-07}}</ref> * Grey Eagle Casino, Alberta, Canada * Casino Fandango * Casino Niagara
=== Casinos operating === *Gold Country Inn & Casino<ref name=nav1/> *High Desert Inn<ref name=nav1/> *Red Lion<ref name=nav1>{{cite web |url=http://www.navegantegroup.com/gaming/playELKO.php |title=The Navegante Group. Casino Resort Development & Management |access-date=2008-04-15 |archive-url = https://web.archive.org/web/20080314161643/http://www.navegantegroup.com/gaming/playELKO.php <!-- Bot retrieved archive --> |archive-date = 2008-03-14}}</ref> *Westgate Las Vegas
==== Previous operations ==== *Casino Fandango *Casino Niagara *Gold Spike<ref>{{cite news |first=BENJAMIN |last= SPILLMAN |title= Dreary hotel to get revamp |url= http://www.lvrj.com/business/8451752.html |work= Las Vegas Review-Journal |date=2007-06-12 |access-date=2008-04-14 }}</ref> *Grand Sierra Resort *Hooters Casino Hotel<ref>{{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/|access-date=2018-04-25}}</ref> *Las Vegas Club<ref name=nav1/> *Plaza Hotel & Casino<ref name=nav1/> *Sahara Hotel and Casino *Western Hotel & Casino<ref name=nav1/>
== References == {{reflist|33em}}
== External links == * {{official website|http://www.navegantegroup.com/|Navegante Group}}
Category:Companies based in Paradise, Nevada Category:Gambling companies of the United States