Reno, Nev., “The Biggest Little City in the World,” is feeling the pinch like its sister city, Las Vegas. Circus Circus in Reno, owned by MGM-Mirage, is laying off 40 additional workers, bringing the total to 60.
But even bigger news is Fitzgeralds Casino Hotel. It’s closing its casino doors and, in two or three years, will reopen as a non-gaming boutique hotel.
The Reno Gazette-Journal is reporting that Fitzgeralds will close in two months, laying off 475 employees. The casino will be replaced by “shops, restaurants, convention space and a third-floor entertainment center.” It will also undergo a name change.
When asked why they were closing their casino operations, the owners said that two of the key reasons were California’s tribal gaming and the economic downturn.
Fernando Leal of L3 Development, part owner of Fitzgeralds, said that ‘”we think there are many great gaming facilities in the immediate area. So we will go in a different direction. And we think our offering will complement those facilities and offer an experience that is distinct to the market.”’
Washoe County, where Reno is located, has seen a decline in its gaming revenue for the 13th straight month. Gaming regulators said that gaming win fell by 20 points, the largest in a decade.
Rob Cashell, president of Fitzgeralds said that Tuesday’s announcement was difficult “since many of the employees have worked at Fitzgeralds for more than a decade,” and employees helped make Fitzgeralds a success in its day.
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