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CasinoApril 7, 2026·1 min read
Downtown Grand Casino in Las Vegas Faces Receivership Amid Financial Struggles
The Downtown Grand casino in Las Vegas has been placed in receivership following the property defaulting on a $90 million construction loan in December. The casino has been under the control of a court-appointed receiver since January as a sale of the property is underway.
CIM Group purchased the former Lady Luck casino in 2007 for $100 million, and the property underwent a $100 million renovation in 2013. The $90 million construction loan was for the Gallery Tower, which was unveiled in September 2020.
The Downtown Grand casino boasts a modern feel with a variety of table games, slot machines, video poker, and a William Hill Sportsbook. The Grand, which hasn’t filed for bankruptcy and continues to operate, doesn’t have a poker room.
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