• Newest Casino In Reno Nv City
• Newest Casino In Reno Nv Reno

NEWEST UPDATES: Station Casinos pulls land sale listings, says Reno casino still possible

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Station Casinos’ Reno experiment is on shaky ground as the company listed all of its land in The Biggest Little City — including the site of a proposed casino — for sale.

Station Casinos listed its two properties in Reno for sale on Saturday as the company continues to deal with the impact of the COVID-19 pandemic on Nevada’s gaming industry. One is a large 89-acre piece of vacant land on Mount Rose Highway in south Reno. The other is an eight-acre property on a high-traffic location near the Reno-Sparks Convention Center and Reno Town Mall where Station once planned to build a new casino and family center.

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The listings were made on Commercial Real Estate Exchange's website CREXi.com.

The listing of both properties is the latest development in the long-running saga involving the Las Vegas-based gaming company’s efforts to break into the Reno market. Each time, Station’s plans ended up facing resistance from some local hotel-casino operators as well as unexpected economic headwinds.

Look back: Station Casinos fuels biggest little debate in Reno

Back in 2005 when the Nevada economy was booming, Station came up with an ambitious proposal to build a large $500 million project that offered gaming as well as 900 hotel rooms. The proposed project boasted three 225-foot-high hotel towers as well as several spaces for retail. The proposal, which was approved by the Reno City Council in 2006, was accompanied by several land purchases by the company, including large vacant parcels in south Reno.

A couple of years later, however, the real estate bubble popped nationwide. Nevada, which was overly reliant on real estate and construction at the time, ended up being one of the hardest-hit states by the Great Recession as foreclosures flooded the market while gaming and tourism also saw a significant hit.

By 2014, Station Casinos started selling some of its land in Reno but still held onto its 89-acre property on Mount Rose Highway. Two years later, the company listed the property for sale as well. Station then pulled off the property from the market in November 2016 following an article by the Reno Gazette Journal about the listing. The company also came back with a new proposal in front of the Reno City Council, this time for a more scaled-down project on the corner of South Virginia Street and Kietzke Lane.

The new plans comprised nearly 21,000 square feet of casino space that included a sportsbook, a sports bar and mobile wagering kiosks. Station also planned to include four restaurants, a five-screen movie theater and a 12-lane bowling alley to attract families to the proposed property.

Stations’ latest proposal, however, met resistance from the nearby Atlantis Casino Resort Spa. At the time, the lack of hotel rooms for the new project was criticized by John Farahi, CEO of Atlantis parent company Monarch Casino & Resort.

“All I’m saying is bring a project that brings in more tourism and enlarges the pie, which helps the whole community,” Farahi said in 2016. “We would love for Station Casinos to build what they planned in 2005, which included a component of rooms, because they do a great job in building facilities like they’ve done in Las Vegas.”

Station’s new casino plan was approved by the Reno City Council. With the land now listed for sale, however, Station’s plans in Reno are uncertain, especially given the impact of COVID-19 on its business. The company mentioned at an August earnings call that there’s a chance that four of its Station properties in Southern Nevada will remain closed for good.

The Reno Gazette Journal has reached out to Station Casinos for comment.

— This is a developing story and will be updated

Jason Hidalgo covers business and technology for the Reno Gazette Journal, and also reviews the latest video games. Follow him on Twitter @jasonhidalgo. Like this content? Support local journalism with an RGJ digital subscription.

This article originally appeared on Reno Gazette Journal: Station Casinos lists all Reno properties for sale, including site for proposed casino

Station Casinos has agreed to purchase a second land parcel in Reno near the site of a planned open-air retail complex

Station Casinos announced Wednesday it has agreed to purchase a second land parcel in Reno near the site of a planned open-air retail complex. The Las Vegas-based casino operator said it will build a casino complex on the location.

No timetable was given for the project, and the company did not reveal a sale price for the 50-acre site, which is on the southeast corner of the Mount Rose Highway and Interstate 395 in southern Reno.

The company is spending just less than $1 billion in Las Vegas to build the $800 million Red Rock Station in Summerlin and make $190 million in capital improvements to two of its existing casinos. It is also planning to unveil a development project on a 58-acre site near Tropicana Boulevard just west of Interstate 15 later this year.

'We will build a regional gaming and entertainment resort in Reno, but we haven't drawn up plans for the site,' Station Casinos spokeswoman Lesley Pittman said.

She said the new complex will be integrated into its environs similar to the way the Green Valley Ranch Station in Henderson is intertwined with the neighboring District, a retail, office and residential complex.

The 50-acre Reno site is part of a 200-acre master-planned project that will include the Summit Sierra, an open-air entertainment, retail, office and residential development.

The 650,000-square-foot retail component is under construction and expected to open in March. It includes retailers such as Dillard's and Williams-Sonoma, and a Century Theatres cinema complex.

'Station Casinos will bring an important element to the site, and we think this will be a tremendous enhancement to the Reno market,' said Jeffrey Bayer, president of Bayer Properties, whose company is developing Summit Sierra and agreed to sell that portion of the land to the casino operator.

Station Casinos recently purchased a 96-acre parcel in Reno, which is a relatively short distance from the company's newest site.

Station Casinos is entering the Reno market at a time when gaming results are lagging behind the rest of the state.

In March, the most recent monthly gaming revenues reported by Nevada casino regulators, Reno was the only jurisdiction in the state that reported a decrease in total gaming win, with casinos in the city collecting $62.5 million from gamblers in the month, a 1.56 percent drop from $63.5 million the previous year.

Washoe County in March reported a monthly gaming win of $86.3 million, up 0.67 percent from the $85.7 million won in March 2004.

Pittman said that Reno's population is significantly growing, with Washoe County up 33 percent over the past decade. Much of that increase is centered in the southern Reno region.

Unemployment in Reno is 3.6 percent, compared with 4 percent in Las Vegas. Job growth in Reno over the past two months has been as high as 4.9 percent.

'We believe the Reno market desires a project of this type, and we think a facility similar to the Green Valley Ranch Station would have significant regional appeal,' Pittman said.

Newest Casino In Reno Nv City

Bayer, who expects the Station Casinos project to be open by 2007, also believes the Reno gaming market is underserved and a casino element would enhance the project's overall offering.

Newest Casino In Reno Nv Reno

'The city's population is moving south, and there is an affluent population from California relocating to that area of Reno,' Bayer said. 'There hasn't been a new casino opened in Reno in some time, so we think this will add considerably to our master plan.'

Station Casinos shares fell $1.10, or 1.71 percent, Wednesday to close $63.15.

Deutsche Bank gaming analyst Marc Falcone said Station Casinos' move into Reno is another growth vehicle for the company, which has five potential gaming development sites around the Las Vegas Valley.

Falcone said he would expect Station Casinos to roll out expansion plans for Northern Nevada by the end of the year.

'The Reno market lacks a quality locals property similar to Station Casinos' properties in Las Vegas,' Falcone said. 'We believe this type of land purchase is consistent with the company's historical track record of securing valuable and desirable land in a favorable supply and demand environment.'