Biltmore Lodge and Casino goes up for auction on October 8
CRYSTAL BAY, Nev. – The Biltmore Lodge and Casino closed its doors two years ago after being purchased by EKN Development Group for $56.8 million. It was slated to become Lake Tahoe’s first Waldorf Astoria. But after EKN defaulted on its $82 million loan in March of this year, the fate of the building was left in the balance. Then in July, a filing at the Washoe County Recorder’s Office made one thing clear—the property is now up for public auction and will go to the highest bidder on October 8.
The Biltmore, an iconic location in Crystal Bay, was built in 1946 and had a storied history of celebrities, supposed gangsters, and a famous ghost named Mary. In more recent years, residents knew it for its $1.99 breakfasts and entertainment.
EKN wasn’t the first to throw their hat in the ring in purchasing the property. In 2007, Roger Wittenberg, a resident of Incline Village, purchased it for $28.4 million. Wittenberg wanted to raze the property and transform it into Boulder Bay—a wellness retreat, public space, and hotel. But the project stalled out during the financial crisis. Boulder Bay sought help from JMA Ventures, a San Francisco developer that also owns Homewood Mountain Resorts.
Wittenberg began seeking buyers for the property a decade after his purchase, which he found in EKN Development Group come 2021. EKN shuttered the doors on the Biltmore in April of 2022 and began development on what was to become the Waldorf Astoria. The developers planned to break ground in 2025 and open the hotel in 2028.
Though the Tahoe Regional Planning Agency (TRPA) approved the permits for the project, the community has expressed its concerns for the project’s financial and environmental impacts in the Basin. Jeff Cowen, a TRPA spokesperson, said they approved a major plan revision from EKN early last year.
Whether or not those plans will stay the same is uncertain. The auction was originally filed for August 13, but was delayed to October 8. The property in total is now priced at over $110 million and will be sold as-is at the Washoe County Courthouse. But construction work still continues at the site, with “a focus on road construction and utilities” according to an EKN Development Group Instagram post from August 22.
Tom Jacobson, a representative of EKN, said a statement regarding the auction would be coming soon from Ebbie Nakhjavani, the president and CEO.
Eli Ramos is a reporter for Tahoe Daily Tribune. They are part of the 2024–26 cohort of California Local News Fellows through UC Berkeley.
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