Larry Ellison’s Lawrence Investments cleared to buy Cal Neva Casino

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Larry Ellison’s Lawrence Investments has been cleared to buy the Cal Neva Resort & Casino on the Nevada-California state line for $35.8 million, according to U.S. Bankruptcy Court records.

The Sacramento Bee reports a federal bankruptcy judge approved the sale on Oct. 16 after no other bidder surfaced for the historic property. Larry Ellison has made billions in high tech as the founder of Oracle Corp. and has recently dabbled into buying extravagant real estate properties.

The Cal Neva, was once owned by Frank Sinatra, but has gone through a succession of owners over many years. The property includes a 10-story hotel tower and a small casino. The property has been virtually unused since 2013. The California-Nevada state line runs through a hotel ballroom and is clearly marked on the floor of the room.

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