The Fitzgerald Casino/Hotel, a landmark in Reno since 1976, will close on Nov. 30 with nearly 500 employees out of work. The casino is expected to reopen two or three years after completing extensive renovations, but will disappear forever. Instead, there are plans to replace the casino with a three-story entertainment facility, including retail, restaurants, and convention spaces. The hotel is yet to be revealed, but will reopen as a boutique hotel under another name.

Reno's declining gambling market is part of the problems caused by more than a year of declining income. Other factors that contributed to the decision were increased competition with California tribal games and the overall U.S. economic crisis.

"Gaming is very capital intensive, competitive, and highly regulated," said Fernando Real of L3 Development, which is developing the project. "And we think there are a lot of great gaming facilities in the neighborhood. So we're going in a different direction. And I think our deliveries will complement those facilities and provide a different experience than the marketplace."  파워볼사이트