Las Vegas-based Station Casinos LLC’s desire to enter the Reno market is finally coming to fruition as the company that turned 40 this year announced on Thursday that it would be building a casino across from the Reno-Sparks Convention Center on South Virginia Street.
The property located off the Mount Rose Highway was purchased by the company back in 2004 and when the 8-acre parcel was rezoned for gaming by the Reno City Council the following year, the gaming giant announced plans for a major hotel-casino project. However, due to the economic downturn at the time, that did not happen. The company’s press release said, “The recent expansion and diversification of Northern Nevada’s economy has renewed the company’s interest in developing a gaming property in the Reno-Sparks market,” as reported by local media outlets. While the land is already set up to accommodate gaming, a special use permit must be obtained from the city and on Monday, Station applied for it.
In addition to the casino, the company’s plans for the property when it was purchased would have also included a 500 room, 17-story hotel tower, but the acquisition of the Reno Turf Club’s unrestricted license after the city closed it in 2004 makes it possible to build a casino without hotel rooms.
Plans for the 84,000 square foot facility include a sports bar and state of the art sports book with large-format LED screens and sports wagering kiosks as well as a cinema, bowling alley, around the clock bistro-style cafe complete with two quick-service outlets and outdoor dining. While a start date for construction is unknown at this point in the regulatory process, the budget for the project is expected to be between $50 million and $70 million, according to Stations Casinos’ press release, as reported by the local news outlet. The project could employ as many as 350 construction workers and could see the creation of up to 200 permanent jobs, officials say.
Having been in the Nevada gaming industry since the company’s founding in July 1976, Station Casinos has been successful in building “neighborhood casinos,” and its gaming portfolio now includes 19 casinos in Nevada.
The company has been keeping busy since it announced that it would be returning to the stock market and in April, Red Rock Resorts, Inc. (RRR), the rebranded parent company which owns a portion of Station Casinos, went public on the NASDAQ Stock Exchange. The following month, the company announced its plan to acquire the Palms Casino Resort in Las Vegas for $312.5 million. The company is also planning a major expansion for its Palace Station property in Las Vegas.