Rolling the dice for $800 million in Reno - TravelMole


Rolling the dice for $800 million in Reno

Wednesday, 28 Aug, 2007 0

Reno-Tahoe is the latest gaming-reliant resort area to spend millions of dollars to upgrade and expand, according to the Reno-Sparks Convention and Visitors Authority.

”Resort owners said they must improve their properties because of the growing threat of tribal gambling in California and plans for new local hotel-casinos,” said the AP.

“It is imperative (to reinvest) if you want to stay competitive with other regions,” said John Farahi, chief executive officer of the Atlantis Casino Resort Spa in Reno.

Mr Farahi’s resort is investing $50 million in an expansion that will include renovation of rooms, new restaurants and a larger casino area.

Bill Eadington, director of the Institute to Study Gambling and Commercial Gaming at the University of Nevada, said Reno has lost about a third of its gambling market since the rise of tribal casinos in 2000.

“We are in a situation where competition is bringing about contraction in the market,” Mr Eadington told the Reno Gazette-Journal. “For the future of tourism in Reno, it is going to have to transition, become more attractive.”

The Peppermill Hotel Casino has embarked on Reno’s largest expansion, a $400 million venture that includes construction of a 600-room, all-suite hotel tower, a sports book, and new pools, shops, restaurants and convention space.

The Cal Neva Resort Spa and Casino at north Lake Tahoe, once owned by Frank Sinatra, is preparing for a $60 million to $70 million renovation.

The Grand Sierra Resort  —  Reno’s largest gambling property  —  plans to build the nation’s largest indoor water park and a 48-story condo tower.

The Grand Sierra already has undergone about $90 million in upgrades, according to the convention authority.

Report by David Wilkening



Related News Stories:  



 

profileimage

David



Most Read

Kittipong Prapattong’s Plan for Thailand’s Tourism Growth: Taxes, Visas, and Campaigns

James Jin: Didatravel’s Journey from China to Global Reach and the Impact of AI on Travel

Darien Schaefer on Pensacola’s Evolution: From Small Town to Global Destination

Florida Tourism’s Next Frontier: Dana Young on Expanding Beyond the Classics

Patrick Harrison on Tampa Bay Tourism’s Resilience and Marketing Strategy

Bubba O’Keefe on Clarksdale’s Vibrant Music Scene

Commemorating Elvis and Embracing Tupelo’s Culture with Jennie Bradford Curlee

Craig Ray and the Expansion of the Blues Trail

Presenting Mississippi’s Cultural Trails with Katie Coats

Robert Terrell: A Journey Through BB King’s Influence

Rochelle Hicks: Celebrating Mississippi’s Musical Legacy

Exploring Jacksonville with Katie Mitura: The Flip Side of Florida
TRAINING & COMPETITION

Our emails to you has bounced travelmole.com Or You can change your email from your profile Setting Section

Your region selection will be saved in your cookie for future visits. Please enable your cookie for TravelMole.com so this dialog box will not come up again.

Price Based Country test mode enabled for testing United States (US). You should do tests on private browsing mode. Browse in private with Firefox, Chrome and Safari