Nevada’s economy peaked in 2005, and Station Casino came up with a unique proposal to build a massive project worth USD 500 million, including 900 hotel rooms and gaming facilities. The proposal was to build three hotel towers, and each would be as high as 225 ft. The Reno City Council approved the project in 2006, and several land purchases by the company followed the announcement. However, the real estate market was hit hard by the recession, and Nevada was dealt a severe blow. The Reno experiment of Station Casinos received a severe jolt, and its effect could be felt even today as the company has listed all its land (including the site of the casino) for sale.
On Saturday, Station Casino listed a couple of its properties for sale, including the 89-acre vacant land located on the Mount Rose Highway. The other property is located near the Reno-Sparks Convention Center, where the proposed Casino and family center was supposed to come up. The company’s listings were apprehended by many as it tries to deal with the aftermath of the COVID-19 pandemic that has severely affected the gaming industry.
The problem started way back in 2014 when Station Casinos sold some of Reno’s land but somehow stuck with the 89-acre property. In 2016, the company listed that property also but pulled it off from the market in November of the same year. It had a new proposal in front of the Reno City Council, where a scaled-down version of the mega project was proposed. The latest proposal met stiff resistance from Atlantis Casino Resort Spa, and the lack of hotel rooms was severely criticized.
