As pointed out at the Volunteer Reception on Saturday night, during a Q&A with James Hogg, there's a concentration of casinos in South Tahoe too.

The Fertitta group, post-acquisition, will own 3 of the 4 big casinos there: Golden Nugget-Tahoe, Harrah's Tahoe, Caesars Republic (formerly Harvey's). But not Bally's-Lake Tahoe (which, ironically, was the long-time Caesars-Tahoe!).

The NGCB and/or Feds may find that a 75% (by # of properties) ownership in South Tahoe is too concentrated. Stay tuned.

If they have to shed one, my guess (without any insider knowledge) is Golden Nugget-Tahoe would go. If it goes and the GN-Atlantic City also goes, does the GN-downtown LV go or stay? It's been a longtime cornerstone for Fertitta, but there could be brand confusion if some GN's are owned by different entities. Regardless, it will take some time to sort out.