Former Harrah’s Reno ‘Revival’ Planned, But No Casino Gambling Included

Posted on: March 11, 2025, 03:30h. 

Last updated on: March 11, 2025, 03:30h.

Devin O'Connor @CasinoorgDevinO Read More
Expertise: Asia Pacific Gaming, Commercial Gaming, Legislation, Politics.
  • The former Harrah’s Reno is set for redevelopment
  • Harrah’s Reno has sat closed since March 2020
  • Harrah’s Reno was the first Harrah’s casino resort

The former Harrah’s Reno casino hotel has sat lifeless since Caesars Entertainment unloaded the property in March 2020 amid its merger with Eldorado Resorts to satisfy regulatory concerns regarding the number of properties the combined company would control. Five years later, there’s finally a plan in place for the 928-room hotel structure and the more than 40,000-square-foot casino.

Harrah's Reno casino redevelopment
A plan is finally in place for the long-shuttered Harrah’s Reno. A new majority owner is moving forward with a redevelopment of the storied casino and hotel complex. (Image: X)

Caesars sold the property to Las Vegas developer Chris Beavor and his CAI Investments for $41.5 million. Beavor had planned to redevelop the property into the “Reno City Center,” a mixed-use destination.

Beavor’s plans never came to fruition, with the developer citing a myriad of issues from the pandemic to increased labor rates and high inflation. Beavor sold the property to Gryphon Private Wealth Management in 2023, but it too struggled to bring “Reno City Center” to life.

Last month, Charlotte-based Madison Capital Group acquired a controlling stake in the closed casino amid “Reno City Center” entering Chapter 11 bankruptcy. Gryphon brought on Madison and its investment during the financial reorganization.

Harrah’s Reno Revival

Downtown Reno is amid a renaissance, as Jacobs Entertainment continues its redevelopment of the Sands Regency, today the J Resort. Jacobs is also behind the ambitious “Reno Neon Line” corridor project that runs from N. Arlington Ave west along 4th St. to Vine.

Three blocks east of the “Reno Neon Line” is the former Harrah’s site. Madison announced this week its plans for “Revival,” a mixed-use undertaking that will overhaul the former casino resort into 300 market-rate residential apartments along with corporate housing and a revamped hotel. No casino gambling, however, is included.

“Revival” is additionally to include office space, retail shopping, restaurants and bars, and a grocery store. A ground-level outdoor plaza will connect the numerous amenities and attractions.

We are excited to kick off Revival, a transformative project that honors the rich history of the Harrah’s property while looking toward the future. Breathing new life into this cornerstone property will play a key role in the continued revitalization of downtown Reno, further establishing it as a top city to live, work, and visit,” said Ryan Hanks, founder and CEO of Madison Capital Group.

The Harrah’s site’s northwestern corner butts up against the famous Reno Arch that reads, “The Biggest Little City in the World.”

Harrah’s Significance

Few properties are as historic to the national gaming industry as Harrah’s Reno.

Envisioned by William F. Harrah and opened on Oct. 10, 1969, Harrah’s Reno was the first casino resort to don the Harrah’s name. Harrah’s casino and hotel company would go on to become one of the world’s largest gambling firms.

Harrah’s Inc. went public in 1971. Bill Harrah died at the age of 66 just seven years later after suffering an aortic aneurysm. Holiday Inn acquired the casino empire two years after he died for $300 million.

Harrah’s Inc. experienced great expansion and would become known as Harrah’s Entertainment in 1995. A decade later, Harrah’s bought Caesars Entertainment for $10.4 billion when it took its acquired brand’s identity.

Bill’s Harrah’s legacy lives on, as 17 properties remain in operation bearing his name. He’s also honored by way of the William F. Harrah College of Hospitality at UNLV, which was established in 1989 with a $5 million gift from his widow, Verna Harrah, his sixth and final wife.