The family has sold the business.....End of an era.... This is the letter they sent out today:

Dear Friends of the Nugget,

We want to take this opportunity to thank you for your support of John Ascuaga’s Nugget and to tell you about some exciting news that we released today.

We are pleased to announce that we have found an investor who shares our optimism about the future of Northern Nevada. Husky Finance and Global Gaming & Hospitality (GGH) have agreed to invest $50 million dollars in the Nugget in the next few years. Plans include renovating casino floor, hotel rooms, restaurants, convention space, exterior improvements and much more. All these changes are designed to make your experiences at the Nugget more enjoyable for years to come.

Our family’s first priority is to see John Ascuaga’s Nugget prosper. In order to secure the capital investment needed, we had to make the difficult and emotional decision to sell John Ascuaga’s Nugget to Husky Financial and GGH.

The sale requires regulatory approval by the State of Nevada Gaming Control Board and Gaming Commission and is expected to be complete by the New Year. The Ascuaga family will remain in a leadership role through the transition. Once the sale is complete, John Ascuaga will be chairman emeritus. Michonne and Stephen Ascuaga will assume advisory roles.

GGH is an experienced private hotel and casino management firm. GGH Co-Owner Carlton Geer will be the new Nugget President & CEO. Geer has been involved in the casino industry for 40 years. He has deep roots in Northern Nevada, having spent four years at the Eldorado Hotel Casino in the early 80s followed by 13 years at the Peppermill Hotel Casino, the last three as its general manager.

The name John Ascuaga's Nugget will remain in the near term, with a potential name change in the future. Most of the employees that you know and love will remain, as no layoffs are planned with the transition.

We sincerely believe that the new ownership will bring the Nugget what it needs to prosper and we hope that you will continue to visit and enjoy the many improvements to come. Thank you for being a valued customer of the Nugget and for helping to make an outstanding 58 years.

Yours truly,

John, Michonne & Stephen Ascuaga