Reno: A City and a Casino Industry in Transition

Great article here by Ken Adams of CDC Gaming Reports — talks about Reno and the changes it and the industry is going through:

The casino industry has changed dramatically since the 1980’s when I worked at the Comstock Hotel and Casino.  In those days, Reno was a vibrant, growing and expanding casino market; it was the number three gaming market in the country after Las Vegas and Atlantic City.  The picture is very different today; most of the casinos from my day have closed up shop and the buildings have been repurposed.  The surviving casinos have one thing in common; they are now part of national corporations.  Those still open and operating are no longer tied exclusively to Reno or as Gary Carano said, “We don’t have all of our eggs in one basket.”  Carano is the CEO of Eldorado Resorts, which as of May 1, 2017, owns 19 casinos in 10 states. That corporation is a far cry from the Eldorado Casino that opened in Reno in 1973 with a few hundred slot machines and 282 rooms.

On May Day, Eldorado Resorts completed its purchase of Isle of Capri.  That purchase was the most recent in a string of mergers and acquisitions over the last few years including the Silver Legacy and Circus Circus in Reno in 2015, a merger with MTR Gaming in 2014 and an earlier purchase of Hollywood Casino in Shreveport, Louisiana.  In the process, Eldorado Resorts has risen to number six on the list of gaming corporations as ranked by the number of casinos operated.

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