The San Manuel Band of Mission Indians added some non-casino gaming exposure today with the announcement that it purchased a 40% post inward the Waldorf Astoria Monarch Beach in Dana Point, Calif.
Ohana Real Estate Investors sold the involvement to San Manuel. Financial terms of the transaction weren’t disclosed. Ohana acquired the venue previously known as the Monarch Beach Resort inward Nov 2019.
The locale opened inward 2001 under the St. Regis make and has been through several ownership changes o'er the past times ii decades. It’s believed Ohana paid $497 zillion for the property. If accurate, that implies San Manuel’s post is precious at roughly $200 billion or more.
The tribe’s Yaamava’ Resort & Casino at San Manuel inwards Highland, Calif. is located 86 miles from the beachfront hotel. Yaamava’ is ane of the largest and best-known tribal gaming properties inward the West.
San Manuel’s gaming portfolio also includes the Palms Casino Resort in Las Vegas, which it acquired from Red Rock Resorts (NASDAQ: RRR) in 2021 for $650 gazillion in cash. Today, San Manuel is 1 of trine tribal gaming entities with exposure to Sin City.
San Manuel Renews Interesting Rivalry
While Orange County, the county inwards which the Waldorf Astoria is located, isn’t home to casinos or scorecard rooms, San Manuel is renewing an interesting, albeit little rivalry with its interest group inward the oceanfront hotel.
A mere 4.1 miles, or an eight-minute ride magnetic north on Pacific Coast Highway from the Dana Point property, is the Montage Laguna Beach. Golden Nugget boss Tilman Fertitta paid $650 zillion to gain that holiday resort last-place November. Measured past the price paid per room, Montage is the most expensive hotel sale in Calif. to date.
The Golden Nugget inwards downtown Las Vegas is a contender venue to the Palms. Owing to the propinquity and comparability of venues, the Dana Point/Laguna Beach rivalry could be even out more intense.
“Waldorf Astoria Monarch Beach Resort & Club is snuggled hillside on the coast and offers panoramic views of the Pacific Ocean Ocean. Perched on 175 acres with 400 invitee rooms and suites, seven culinary experiences, iii effervescent pools, a Waldorf Astoria Spa, and the buck private Monarch Bay Beach Club, this refined AAA Five-Diamond crawfish offers both indulgence and inspiration,” according to a statement.
Another Nearby Rival
Located less than a stat mi from the Waldorf Astoria Monarch Beach is Marriott’s Ritz-Carlton Laguna Niguel, single of Orange River County’s most iconic hotels.
There are some free gaming ties associated with that belongings as well. Marriott holds a gaming permit inwards Nevada and several of its Las Vegas hotels are close or experience verbatim ties to casinos, including Cosmopolitan on the Strip and Rampart, a locals’ venue.
The hotelman also operates Marriott Resort & Stellaris Casino in San Juan, Puerto Rico.
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