Reno retreat for Station Casinos
In Nevada and American casino operator Station Casinos has reportedly placed a pair of undeveloped sites it owns in the city of Reno up for sale as it continues to contend with the economic fallout of the ongoing coronavirus pandemic.
According to a report from the Reno Gazette-Journal newspaper, the Las Vegas-headquartered firm listed the two plots with the property website at CREXi.com over the weekend after last month revealing that four of its venues in southern Nevada may never be re-opened.
The first up-for-sale parcel was purchased by Station Casinos over ten years ago as part of a plan that was to see the operator construct a new family-friendly casino complete with nearly 21,000 sq ft of gaming space as well as a five-screen cinema, four restaurants and a twelve-lane bowling alley. However, this proposal for the eight-acre site adjacent to the high-traffic junction of South Virginia Street and Kietzke Lane purportedly never progressed past the planning stages despite being approved by local officials in 2016.
The newspaper reported that the second plot Station Casinos is now hoping to offload lies some seven miles distant across Mount Rose Highway from The Summit Reno shopping center and had been slated as the 89-acre home for a prominent $500 million casino resort. This retail-friendly facility was purportedly destined to come complete with a trio of hotel towers offering some 900 rooms but was eventually mothballed as a result of the financial crisis of 2007.
The Reno Gazette-Journal reported that Station Casinos has continually had its Reno expansion efforts thwarted and even faced criticism in 2016 from the owner of the small city’s Atlantis Casino Resort Spa, the locally-based Monarch Casino and Resort Incorporated. This second firm’s Chief Executive Officer, John Farahi, purportedly told the newspaper at the time that his rival should have been officially required to include hotel space within its proposed smaller development so as to help the entire area by ‘bringing in more tourism and enlarging the pie.’