Since 1976, Reno's landmark, the Fitzgerald Casino/Hotel, will close on Nov. 30 with nearly 500 employees out of work. The casino is expected to reopen two or three years after completing extensive renovations, but it will disappear forever. Instead, there are plans to replace the casino with three-story entertainment facilities, including retail, restaurant, and convention spaces. The hotel has yet to be unveiled, but will reopen as a boutique hotel under a different name.
The decline in Reno's gambling market is part of the problem caused by a drop in income for more than a year. Other factors that contributed to the decision were increased competition with California tribal games and the overall U.S. economic crisis.
"Gaming is very capital-intensive, competitive, and highly regulated," said Fernando Real of L3 Development, who is developing the project. "And we think there are a lot of great gaming facilities in the immediate area. So we're going in a different direction. And I think our deliveries will complement these facilities and provide a different experience than the marketplace." 파워볼사이트