Timothy Bumb's Sutter's Place Inc. has purchased the Bay 101 Casino property in north San Jose for $71.7 million. This transaction was documented on July 1, revealing that the price represented an 88.2% increase from the assessed value of $38.3 million in January 2024. A $65 million loan from Western Alliance Bank was secured to finance the deal. The acquisition involves real estate only and does not impact the existing casino's ownership or management. The sale concludes a legal dispute among Bumb family members, including Brian Bumb.
The north San Jose property where Bay 101 Casino operates has been bought for $71.7 million, according to documents filed on July 1 with the Santa Clara County Recorder's Office.
Sutter's Place Inc., whose chief executive officer is Timothy Bumb, now owns the casino property.
The purchase price of $71.7 million was 88.2% above - or nearly double - the $38.3 million value of the property in January 2024.
The transaction involves only the real estate and doesn't affect the casino, whose ownership and management remain in place.
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