Innovative perspectives reimagining an established sector
Going head-to-head with Sin City: The history and evolution of Reno's casino scene
Right about now, you might be reminiscing about the legalization of gambling in Nevada way back in 1931. But did you know that J.G. Scrugham, the publisher of Nevada State Journal, wrote in an article that Nevada was "embarking upon an era of what may be termed 'legalized liberality'"? And boom! On March 19, 1931, Reno and Vegas were all about the casino action.
Historically, both Reno and Vegas seemed to be in a friendly competition to become the ultimate gambling capital of the nation, and even the world. Reno earned its title as the "Divorce Capital of America" the same day that wide-open casino gambling became legal. And Vegas? Well, it had river-building men and Hollywood bigshots in its corner. By the 1950s, Vegas had the win, leaving poor Reno in second place.
However, Atlantic City showed up in 1978, ready to play ball. Atlantic City quickly took over second place, even giving Vegas a run for its money at times. But, Reno wasn't ready to throw in the dice. Indian gaming arrived in 1988, bringing competition from a new front – tribal casinos in feeder markets.
Interestingly, the number of slot machines in Reno showed a steady growth throughout the years. In 1963, Reno had 7,200 slot machines, but by 1990, that number had soared to 28,000. Just before the California gambling flood hit Nevada, there were 33,000 machines in the vicinity. Today, there are 18,000.
Things were looking grim for Reno at the beginning of the 21st century, with a crisis that almost had the city ready for the dumpster. But, lucky for Reno, some outsiders saw potential rather than disaster. Tesla, Panasonic, and Amazon, among other high-tech companies, started breathing new life into the city.
Two other individuals, Alex Meruelo and Jeff Jacobs, saw an opportunity to reimagine and revitalize Reno's casino scene. Their visions and billions of dollars might just put Reno back on the map. While Meruelo's ideas revolve around transforming the Grand Sierra into a multi-purpose resort, Jacobs plans to create a mixed-use district with housing, retail, entertainment venues, and casinos at the Gold Dust West.
Reno has lost around three-quarters of its casinos, but the city beats with a renewed energy. The remaining casinos, buoyed by visionaries like Meruelo and Jacobs, are ready to once again stand their ground against the all-powerful Vegas. Reno's blooming casino scene continues to write a new chapter in Reno's history, one that might just lead to a rematch with Sin City.
Enrichment Data:
- Reno's commercial casinos began operations following the legalization of gambling in Nevada in 1931, making it a major gambling hub for northern Nevada and parts of neighboring California[4].
- Reno was primarily known for luxury hotels, world-class entertainment options, and upscale dining, with commercial casinos merely a supporting act[4].
- Indian gaming, as a result of the Indian Gaming Regulatory Act passed in 1988, created competition among commercial casinos in Reno and neighboring gambling markets[1].
- Indian gaming on Native American reservations grew in number and popularity, diversifying the gambling landscape and drawing customers who might otherwise have frequented commercial casinos in Reno, shifting market share and revenues[1].
In the context of Reno's casino scene, the rise of casinos in Las Vegas, another major gambling hub, has often been compared, as both cities vied for the top spot in the nation and even the world. Over time, Las Vegas overtook Reno, but the latter reemerged in the 21st century with a resurgence, prompting a potential renewed competition between Reno and the gambling capital, Las Vegas.
