Reno's gaming market is experiencing unprecedented growth, coinciding with significant construction on the Grand Sierra Resort’s new arena. About 450 miles north of Las Vegas, this ambitious project is a key component of Nevada's gaming and tourism evolution. Billionaire Alex Meruelo's plan for a 10,000-seat arena is nearing realization as construction proceeds, with major infrastructure work underway. This development forms part of a broader $1 billion expansion plan, projected to be the largest private investment in Reno's history if completed.
Chris Abraham, GSR's chief marketing officer, reported substantial progress on the site. "There's a great deal of work happening… We have walls, foundations, and all the underground work is basically done, so now it’s the fun time when we can actually start building up and everyone gets to see," he noted during a tour last month.
Initially estimated at $350-$375 million, current projections for the arena have risen to approximately $450-$500 million as Meruelo prioritizes quality in its construction. Abraham claims it will be one of the best venues in the world for events, including University of Nevada men’s basketball games, along with a variety of other sports and entertainment events.
In designing the arena, the GSR team seeks inspiration from cutting-edge venues globally, including the Intuit Dome in California and the Moody Center in Texas, while also considering operational models like the Mohegan Sun Arena in Connecticut, which shares a similar capacity and location within a large casino.
Historic professional hockey has seen limited presence in Reno. Although the Reno Aces, a minor league baseball team, have thrived thanks to their support from Greater Nevada Field, many other local sports teams have struggled due to venue issues. Meruelo's previous ownership of the NHL's Arizona Coyotes, which he sold and rebranded as the Utah Mammoth in 2024 after difficulties finding a long-term arena solution, further underscores these challenges. The Coyotes' American Hockey League affiliate, the Tucson Roadrunners, extended their lease through the 2027-28 season, aligning with the planned 2028 debut of the GSR arena. However, Abraham mentioned that plans regarding the Roadrunners’ potential relocation remain unconfirmed, saying, "We expect to have hockey as part of the future of the arena… But that hasn’t been determined yet."
The partnership between GSR and the University of Nevada, forged between Meruelo and school President Brian Sandoval, is crucial. Sandoval, a former governor of Nevada and established figure in the gaming industry, has maintained ties with Meruelo since the latter acquired GSR in 2011. He has previously held roles including chair of the Nevada Gaming Commission and is now chairing the Resorts World Las Vegas board of directors.
Successful years for Nevada athletics, such as the memorable 2010 football season or the 2018 basketball season, drive significant local interest. However, specific challenges exist in attracting talent in today’s competitive name, image, and likeness (NIL) environment. Athletic Director Stephanie Rempe highlighted the importance of investment in quality players, asserting that the new arena will enhance recruitment efforts but must be complemented by effective player programs.
The relationship between college athletics and sports betting raises concerns. College athletes have faced challenges linked to betting, leading to the NCAA's push for restrictions and a recent point-shaving scandal involving former players. While Nevada has permitted betting on in-state colleges since 2001, sports event contracts in prediction markets remain banned. With the university's events close to betting venues, Rempe emphasized the need to educate student-athletes about the gaming environment, ensuring that precautionary measures are in place.
From GSR's perspective, hosting university games aligns with their ongoing interactions with the community. Abraham reassured that their approach will continue fostering a welcoming atmosphere in line with prior experiences managing crowds of all ages, stating, "We will do whatever the university requests to make sure we’re providing a really welcoming environment."
Meruelo's investment in the Reno gaming market comes at a time of upward momentum. Recent data from the Nevada Gaming Control Board indicates that Reno achieved $825 million in gross gaming revenue in the last fiscal year, showing a 7% year-over-year increase. This growth continues, as demonstrated by an impressive $79 million in August alone, marking a 15% rise from the previous year. Increased visitor counts led to record hotel room revenues each month from January through June this year.
Mike Larragueta, president and CEO of Visit Reno Tahoe, articulated the vision for the future, saying, "We want to continue creating demand for Reno Tahoe throughout the year, reaching new audiences, and strengthening the destination in ways that create lasting value for our community." Abraham has witnessed this market revival since his return to Reno in 2014, claiming that the arena project is now unequivocally moving forward. "As you can clearly see, it is happening. There are a couple hundred people right now… building what is going to be just a wonderful experience for the entire city. So we couldn’t be more excited about that."
