Cannery Casino Resorts announced Wednesday that Nevada Gaming Control has approved selling the 33 percent ownership interest in Cannery Casino Resorts to the Oaktree Capital Management. The remaining 67 percent are owned by the Millennium Gaming.
Oaktree is an international private investment company headquartered in Los Angeles, California. The company clients include Fortune 100 companies, major public pension funds, university endowments, and individuals. The Millennium Gaming is a corporation owned by William J. Paulos and William C. Wortman.
Cannery Casino Resorts is the owner and operator of the Cannery Casino and Hotel in Las Vegas. It also manages the Rampart Casino at the Resort at Summerlin. The company plans to use to revenues from the recently signed agreement to develop a casino resort in Pennsylvania.