P.M. Briefing : Del E. Webb Selling Last Casino
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CARSON CITY, Nev. — Del E. Webb Corp. plans to sell the High Sierra hotel-casino at Lake Tahoe--its last casino property to be sold in a move to concentrate on real estate development.
The High Sierra is being sold to wealthy Kentucky real estate developer and hotel operator William J. Yung. The price was not disclosed.
The deal, which is subject to approval by the Nevada Gaming Commission, would be “a cash sale of the assets and Del Webb will not recognize any gain or any loss,” High Sierra spokesman Skip Sayre said Monday.
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