Highlights of the reinvestment for the Eldorado Reno, Silver Legacy, and Circus Circus Reno include the renovation of over 4,100 guest rooms, casinos upgrades, and food and beverage updates for each of the three resorts, as well as a new full-service luxury spa for the Eldorado. In addition, the Silver Legacy and Circus Circus Reno will receive improvements to their race and sports books as well, according to PR Newswire.
The company’s master plan for the three connected properties is to be phased over three years, beginning in the fourth quarter of 2016. Since July, more than 13 building permits have been filed with the City of Reno by the three downtown casinos. Chairman and Chief Executive Officer of Eldorado, Gary Carano, said, “Downtown Reno’s renaissance and re-emergence as a vibrant growing economy has been remarkable and as the leading gaming and lodging operator in the market Eldorado Resorts has and will continue to benefit from the increased economic, tourist and local activity,” according to the news release.
The move by Eldorado Resorts comes on the heels of an announcement last week that it signed a $1.7 billion deal to acquire rival Isle of Capri Casinos Incorporated. The deal includes $929 million of long-term debt held by the company and its subsidiaries. The transaction, which is expected to be completed in the second quarter of 2017, will add 13 properties to the company’s portfolio.
The Reno-based company led by family patriarch and founder Don Carano owns and operates seven properties in five states, including the the Eldorado Resort Casino, Eldorado Resort Casino in Shreveport, LA; Eldorado Gaming Scioto Downs in Columbus, OH; Mountaineer Casino Racetrack & Resort in Chester, WV; and Presque Isle Downs & Casino in Erie, PA. Silver Legacy and Circus Circus Reno were acquired by the company in fall of 2015.