Caesars Investing $160 Million to Overhaul Harveys Lake Tahoe Into Caesars Republic

Posted on: April 30, 2025, 12:55h. 

Last updated on: April 30, 2025, 02:31h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.
  • Harveys Lake Tahoe is undergoing a $160 million renovation
  • The project will result in the resort being renamed Caesars Republic
  • Caesars is bullish on the South Shore Lake Tahoe market

Caesars Entertainment will invest $160 million to overhaul Harveys Lake Tahoe into Caesars Republic Lake Tahoe.

Caesars Harveys Lake Tahoe Caesars Republic
A rendering of what Caesars Entertainment’s Harveys Lake Tahoe will look like once it becomes Caesars Republic Lake Tahoe. The $160 million overhaul is set to be completed in mid-2026. (Image: Caesars Entertainment)

Caesars Republic is the newest brand in the Caesars portfolio. The first Caesars Republic opened in Scottsdale last year, though the resort doesn’t offer gaming. The second Caesars Republic destination will have slot machines, table games, and sports betting when it opens in Stateline sometime next year.

Lake Tahoe is a stunning destination, and we’re elated to bring a new world-class resort worthy of its allure to the lakefront,” said Anthony Carano, president and chief operating officer of Caesars Entertainment. “Caesars Republic Lake Tahoe will set the stage for a new era of luxury in the region, and we know our guests will be blown away by this tremendous transformation.”

All 1.6 million square feet of Harveys Lake Tahoe will be renovated, with the 88K-square-foot casino set for a major upgrade with new carpeting, lighting, tables, chairs, and modern slots and tables. The resort’s two hotel towers that offer 740 hotel rooms will be remodeled and butler service will be introduced for select suites. Harveys’ celebrity restaurants — Gordon Ramsay’s Hell’s Kitchen and Wolf by Vanderpump — will remain.

The current Harveys casino floor is equipped with 600 slots and 100 live-dealer table games. It also has a Caesars Race & Sportsbook.

Bullish on Lake Tahoe

On Tuesday, Caesars Entertainment revealed that its first-quarter revenue totaled $2.79 billion, up almost 2% from a year ago. Earnings per share came in at a loss of 54 cents, 184% lower than the 19-cent loss consensus estimate among analysts. The earnings shortcoming has sent Caesars shares tumbling today, with the stock down 4% as of 1 pm EST.

Though global economic concerns are rampant due to President Donald Trump’s possible retaliatory tariffs, Caesars remains optimistic about the South Shore Lake Tahoe gaming market. Along with its $160 million allocation for Harveys to become Caesars Republic, the company is investing in improvements at its Harrah’s Lake Tahoe across the street.

While gross gaming revenue last year on the Las Vegas Strip was down 1% from 2023, the South Shore Lake Tahoe market posted the slightest of gains. South Shore casinos won $244 million from players last year, 8% more than they did in prepandemic 2019.

Caesars isn’t alone in seeing opportunity in Lake Tahoe. Billionaire Tilman Fertitta’s Golden Nugget is undergoing a complete overhaul of the 539-room hotel and casino through an undisclosed budget.

Caesars Harveys Lake Tahoe Caesars Republic
(Image: Caesars Entertainment)

Caesars Republic Lake Tahoe Terms Unknown 

While Caesars Entertainment operates Harveys, the resort’s physical assets are owned by Caesars’ real estate investment trust spinoff (REIT), Vici Properties. Caesars sold Harveys to Vici in 2017 as the REIT was formed through a sale-leaseback structure.

Typically, casino REITs like Vici and its primary competitor, Gaming & Leisure Properties, help bankroll major resort investments like the Harveys to Caesars Republic project. In exchange, the rent terms increase.

Caesars didn’t immediately respond to Casino.org’s request for clarification as to whether Vici is partially bankrolling the $160 million Lake Tahoe undertaking.