Historic Harrah’s Reno to be sold and converted into a non-gaming hotel and mixed use development

The sale of Harrah’s Reno, one of the Nevada gaming industry’s historic landmarks, end the presence of the Harrah’s name in the Northern Nevada city after 83 years.

New York-based VICI has been leasing the property to Caesars Entertainment since VICI was created out of the Caesars bankruptcy in 2017 and took ownership of nearly two dozen Caesars-owned casinos.

Caesars is merging with Reno-based Eldorado Resorts in
a $17.3 billion transaction. Eldorado operates three casinos in downtown Reno –
Eldorado, Silver Legacy and Circus Circus, which are collectively referred to
as “The Row.”

Gaming analysts said Eldorado management, which would have acquired the Harrah’s Reno lease through the Caesars purchase, wasn’t interested in operating a fourth casino in the Reno market. In addition, there might have been federal antitrust concerns with one company owning that many gaming properties in the area.

Reno attorney Garrett Gordon of Lewis Roca Rothgerber Christie, who represents Reno City Center LLC, a subsidiary of CAI, declined comment on Tuesday. According to the secretary of state’s website, Reno City Center LLC was formed in November with Las Vegas-based Silver State Realty & Investments listed as its resident agent.

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