We didn’t know this until now, but the Downtown Grand is in receivership and has been for a couple of months, according to the Review-Journal. The report is that the owners defaulted on a $90 million construction loan from Banc of California and the receiver “has already begun a formal effort to sell the hotel-casino.” The loan was taken out in 2019 to finance construction of the third (ill-fated) tower and Banc of California sued DTG on Dec. 23, nine months after the property stopped making interest payments; in addition, DTG “failed to pay the loan in full when it matured on Aug. 19, 2025.” According to the R-J, the receiver is in full control of DTG and has “stabilized” the property with some additional funding help from Banc of California.
Source: Las Vegas News