Eldorado Resorts Invests in Gaming Facility Enhancements
Reno properties owned by Eldorado Resorts has decided to invest over $50m to enhance three facilities.
To stay popular among gambling enthusiasts, casinos and other gambling facilities have to continue to make enhancements and offer quality gaming. Most venues make updates on a regular basis to ensure that players will be satisfied with the games offered as well as quality of the facility. Just recently, Eldorado Resorts announced they are going to invest a great deal of money into their Reno properties. Over $50 million will be spent by the company to make the Circus Circus Reno, Eldorado Reno and Silver Legacy venues even better.
Master Plan by Eldorado Resorts
The three gaming properties owned by Eldorado Resorts are connected and the brand has a master plan for the investment. The casinos are located along an eight block section of Reno, in the downtown area. The $50 million will be spent over a three year period and begin within the fourth quarter of this year. More than 4,000 guest room will be renovated at the property hotels as well as new concepts added.
Each resort will see a new restaurant created as well as a quality nightlife scene. Resort amenities will be added including a Luxury Spa with full services. Visitors will be able to enjoy an overall resort experience at any of the three venues including gaming, entertainment, dining and relaxation. The announcement of these changes comes just after an agreement was signed by the company to acquire Isle of Capri Casinos.
Reno’s Economic Upturn
The area of Reno has seen a great economic upturn over the past year. From travel to tourism and more, the city has seen great things happening. An airline service has expanded to the region which helps travelers reach the area quickly. Housing values have improved as well as employment rates going up. Recreational activities are more readily available with food and art options continuing to emerge.
Gary Carano, the Eldorado Chief Executive Officer and Chairman, stated that the renaissance and re-emergence as a vibrant growing economy within Downtown Reno, is remarkable and as the leading gaming operator as well as lodging operator in the area, Eldorado Resorts has and will continue to be able to benefit from the increased economic, tourist and local activity.
According to Carano, Eldorado is a legacy operator that has been involved in the Reno area since 1973. The company was able to acquire 50% of the remaining interest in the Silver Legacy Resort Casino Reno as well as Circus Circus Reno during the summer of 2015 based on their knowledge of the Reno area.
Since the company took over the gaming venues, a detailed analysis and design work has been put in place to develop a master plan for the three properties in Reno. The focus will be on elevating the gaming options as well as entertainment, food, beverage and additional amenities. The company plans on bringing guests with a focus on generating an attractive return on their big investment.
With the master plan, Eldorado Resorts will be able to further enhance their guest experience within the three properties to provide a seamless environment for a luxury resort stay. Carano stated that the company is excited to begin construction later on this year and help to contribute to the employment and economy of Reno.
It will be interesting to see as these concepts come together and how Eldorado Resorts executes their master plan. Each step will be carefully planned to be able to get the best result from the large investment.