After the purchase, the Golden Nugget embarked on a 14-month, $100 million renovation project, which was completed in November 2006.

On February 4, 2005, Houston, Texas-based Landry's, Inc announced its intent to purchase the property and the Golden Nugget Laughlin. Their story became the basis for The Casino, a television series on Fox that premiered on June 14, 2004. When Poster Financial assumed control of the Golden Nugget, they began to upgrade the gambling operation by installing new cashless slot machines and by increasing the maximum bet available at table games to $15,000. The Golden Nugget was sold in 2003, for $215 million to Poster Financial Group, owned by Timothy Poster and Thomas Breitling. Gaming revenue on Fremont Street had peaked in fiscal year 1993. (later named MGM Mirage).Īlthough the Golden Nugget was profitable, it was not part of the master expansion plan of the corporation which was focused on consolidating a long stretch of the Strip by acquiring Mandalay Resort Group, building City Center, and beginning construction in Macau. In 2000, the Golden Nugget (and all of Mirage Resorts' other properties) was sold to MGM Grand, Inc. The second hotel tower opened in 1984 along with the showroom, and the third tower was opened in 1989. Frank Sinatra periodically headlined at the Golden Nugget. It was the foundation for Wynn's rise to prominence in the casino industry. In 1977, he opened the first hotel tower and the resort earned its first four-diamond rating from Mobil Travel Guide. Steve Wynn bought a stake in the Nugget, which he increased so that, in 1973, he became the majority shareholder, and the youngest casino owner in Las Vegas. Jackie Gaughan at one time owned a stake in the hotel as part of his many downtown properties. The Golden Nugget was originally built in 1946, making it one of the oldest casinos in Las Vegas.

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