A California developer has filed plans to build Reno’s first new casino resort since 1995. [Image: Shutterstock.com]
Exciting potential project
A California developer has been planning to build the first new casino resort in Reno, Nevada since 1995. San Diego-based Elevation Entertainment has officially presented its development plans for a new casino resort with 200 hotel rooms.
The area’s first new casino resort since Silver Legacy opened in 1995
The new facility will be built near the Sparks Reno Convention Center on a 20-acre site that is currently empty. It will be the first new casino resort in the area since Silver Legacy opened in 1995.
Speaking about the prospective project, Elevation Entertainment CEO Ryan Stones said Reno was a great gaming market until the construction of the Thunder Valley Casino Resort in Sacramento in 2003, which lured visitors away. He noted that the introduction of non-toys industries such as Tesla’s battery factory in Reno has fueled the region’s recovery and that there has been steady demographic growth over the past decade. Stones believes the new casino project in Reno will be a great opportunity.
Part of the proposed site for New Reno casino resort Owned by casino operator Red Rock Resorts. It previously had plans to build a casino without a hotel on the site. Elevation Entertainment is under contract to purchase the land.
The potential new casino’s current business address is Firecreek Crossing Resort-Casino. It is not yet clear how much the project will cost; Stones expects to have 65,000 square feet of casino space, an outdoor pool, and restaurants. Elevation Entertainment hopes to get approval for the new casino by summer and construction could begin in 12 to 18 months.
It built and operated two cardroom casinos in California
Elevation Entertainment has a strong track record in the US gaming market. It built and operated two cardroom casinos in California: Seven Mile Casino in Chula Vista and Stones Gambling Hall in Sacramento. Speaking about Elevation Entertainment’s future plans, CEO Stones said, “We’ve been working with Cities for over 30 years on projects. Our desire is to play more games. It fits perfectly with our skill set.”
Reno Mayor Hillary Schieve has spoken with the developers and hopes the new casino resort will survive. It has not yet reviewed current plans, but is looking forward to doing so. She believes that the hotel rooms are a big plus for the project and that it could be an attractive property in the city centre.
Reno is recovering gaming market
Reno’s gaming market peaked in 2000 when it generated a record one-year revenue of $859 million. Several casinos closed during the 2000s as new tribal casinos across Northern California took Reno’s revenue. There are signs of recovery, with gaming revenue coming in at $728 million last year, the best single-year total since 2007.
Northern Nevada got its first casino resort in two decades in August when the $120 million Legends Bay Casino opened.
Revenues for 2022 are on track to beat last year’s total. There were only 16 gaming facilities in operation in Reno during fiscal year 2020, compared to 27 in fiscal year 1995. Several casinos in the area have changed hands over the past two years, receiving much-needed investment.