LAS VEGAS— Vestin Group, through its subsidiary Vestin Mortgage, announced that Daniel Stubbs recently negotiated a $48 million loan for the proposed Cannery Hotel and Casino in North Las Vegas. The funds will be used for the construction and development of the 201-room hotel/casino. The project will have a 35,000-square-foot gaming area, retail space, a race and sports book, and a sports bar with a food outlet. Also included in the total 132,000-square-foot property will be three themed restaurants, a buffet and an entertainment area. Steve Byrne, CEO of Vestin Mortgage, noted that the transaction marks “our largest loan to date.”
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