Owners of D Las Vegas buy Las Vegas Club

The Las Vegas Club, one of the city's oldest casino properties, has changed hands between downtown owners.

The 86-year-old sports-themed casino which also has more than 400 shuttered hotel rooms, was sold by the Tamares Group, owners of the Plaza, to Derek and Greg Stevens, who own the D Las Vegas, according to Jonathan Jossel, CEO of PlayLV, which has managed the Plaza.

Terms of the deal weren't disclosed.

The Stevenses, among the downtown casino owners who have committed to renewing the neighborhood by remodeling and upgrading properties, acquired the Fitzgerald in October 2011, invested $22 million in renovations and converted it to the D Las Vegas a year later.

"Today we are excited to announce the sale of the Las Vegas Club to Derek and Greg Stevens' company," Jossel said in an emailed statement. "The Tamares Group, owner of the Las Vegas Club, and PlayLV, its operator, had been working on various development prospects for the Las Vegas Club, but it is clear that the sale of the property provides a greater opportunity for the future of the company, its staff and the Fremont Street neighborhood."

Derek Stevens did not return a phone call seeking comment.

Jossel said with the Las Vegas Club sold, his company would focus its efforts on the Plaza.

"In the interim, until closure of the Las Vegas Club for renovations by its new owner, PlayLV will continue to run the day-to-day operations of the Las Vegas Club," Jossel said. "We are excited by the opportunities this sale creates for Tamares and PlayLV and that the new owner shares our commitment to the Fremont Street area and the continued growth of downtown Las Vegas."

The sale would have to be approved by the state Gaming Control Board and the Nevada Gaming Commission. Since both Tamares and the Stevenses are already licensed in the state, the sale isn't expected to meet much resistance.

Follow @RickVelotta on Twitter. Contact reporter Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893.