Hotel room rates ran from $24 to $32, or $45 to $110 for a suite. The casino floor included five craps tables, a roulette wheel, 15 blackjack tables, a 35-seat Keno lounge, slot machines and a baccarat table. It reopened as the 470-room Kings Castle Hotel and Casino in July 1970. He invested $20 million into the property and renovated it into a Camelot-themed hotel and casino.
In 1969, Jacobson purchased the property of the former Incline Village Casino and Lake Tahoe Hotel. Jacobson faced charges from the Securities and Exchange Commission relating to the sale of Caesars Palace in 1969.
He had come under federal investigation because he had hired Jerome Zarowitz, who had organized crime connections, as director of casino operations. Nathan Jacobson was a Baltimore insurance executive who became the president and part owner of Caesars Palace in Las Vegas, Nevada during the 1960s. It opened in 1970 and closed after Jacobson filed for bankruptcy in 1972. Kings Castle Hotel and Casino was a hotel and casino owned and operated by Nathan 'Nate' Jacobson on the north shore of Lake Tahoe in Incline Village, Nevada.
