Another One Bites the Dust - Fitzgeralds is Closing

Fitzgeralds Casino Hotel is joining a growing list of downtown Reno gaming properties - those that have closed since the turn of the century and won't be back. So far, the list includes the Comstock, Sundowner, and Golden Phoenix. Each of these is being morphed into condos and retail space. After it shuts down, Fitzgeralds will remain closed for two to three years while undergoing a major overhaul. The building is to reopen with a new (as yet unannounced) name, refurbished hotel, convention space, indoor entertainment center, shops, and restaurants. A casino is not on the menu.

Fitzgeralds opened in 1976 and will close for good on November 30. The building was purchased by L3 Development and will be incorporated into the Montage condominium complex as part of the company's mixed use project in downtown Reno. The buildings are across Sierra Street from each other. Adjacent to both highrises is the train trench cover project, currently under construction.

About 475 employees will be losing their jobs. Fitzgeralds management has indicated it will try to help them find new employment. This is yet another casualty of declining gaming revenue in Reno (and throughout Nevada). According to the state Gaming Control Board, Washoe County's take has declined for 13 straight months. It's going to be painful for a while, but I'm hoping the steady transition away from such heavy dependence on gambling money will help create a more stable economic climate in the Reno / Tahoe region.

Source: Reno Gazette-Journal