In December 1986, Lincoln Management exercised an option to buy Fitzgeralds from Meta Fitzgerald for $26 million. The new company's management agreement took effect in April 1985. Fitzgerald had operated the property since the 1981 death of her husband, the casino's founder, Lincoln Fitzgerald. It was formed to assume the management of the nearby Fitzgeralds Hotel-Casino under a contract with the casino's owner, Meta Fitzgerald. was founded in 1984 by Philip Griffith and several other former casino executives of the Summa Corporation, who had worked at Harolds Club in Reno and the Sands Casino in Las Vegas. It filed for Chapter 11 bankruptcy in December 2000, and subsequently sold all its properties. Fitzgeralds Gaming was a gaming and hotel company based in Reno, Nevada, that operated four casinos under the Fitzgeralds brand.
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