In Reno, just 450 miles north of the bustling Las Vegas Strip, significant development is underway that promises to reshape Nevada's gaming and tourism sectors. The Grand Sierra Resort (GSR), a cornerstone of Reno for nearly 50 years, is currently advancing its ambitious 10,000-seat arena project, backed by billionaire Alex Meruelo, which is occurring at a critical time for the region's growth.
Three years since the project announcement, work on the foundation and infrastructure continues as winter draws near, presenting potential delays. This arena is part of a broader $1 billion expansion plan, marking the largest private investment in Reno’s history should it reach completion.
Chris Abraham, GSR's chief marketing officer, highlighted the progress during a recent site tour, stating, "There’s a great deal of progress being made, a great deal of work happening and the garage has just begun. We’re out of the ground, we have walls, we have foundations, 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."
Initial cost projections for the arena ranged from $350-$375 million, but Abraham noted the current estimate has increased to around $450-$500 million. He emphasized Meruelo's commitment to creating a premier venue, set to host the University of Nevada's men’s basketball games alongside various sports and entertainment events. "For a 10,000-seat-plus arena, it’s going to be the very best one of those, maybe in the world," Abraham said.
The design of the GSR arena draws inspiration from modern venues worldwide, such as the Intuit Dome in California and the Moody Center at the University of Texas. The Mohegan Sun Arena in Connecticut also serves as a model for its operational framework, demonstrating how a casino can successfully integrate a sporting venue.
Reno’s hockey history is sparse, but the GSR arena aims to change that. The Reno Aces, the Triple-A affiliate of Major League Baseball’s Arizona Diamondbacks, have thrived at Greater Nevada Field. However, other professional teams have faced challenges, leading to their disbandment.
Meruelo previously owned the NHL's Arizona Coyotes, a franchise that struggled to find a stable home in Arizona before being sold and transformed into the Utah Mammoth in 2024. Despite the Coyotes’ sale, he retained ownership of the team’s AHL affiliate, the Tucson Roadrunners, whose lease in Tucson extends through the 2027-28 season. This timeline aligns with the expected 2028 opening of the GSR arena, though discussions regarding relocating the Roadrunners remain in the preliminary stages.
Abraham indicated, "We expect to have hockey as part of the future of the arena, it’s just a determination right now of what kind of hockey and how does that look. We’re probably another six months or so from really getting into the details of that. But I know Mr. Meruelo is looking at a few options and will make a decision soon."
The partnership with the University of Nevada has been a driving force since the project's inception, facilitated by conversations between Meruelo and school President Brian Sandoval. Sandoval, who served as Nevada’s governor from 2011 to 2019 and held a leadership role at MGM Resorts after leaving office, has been instrumental in forging this relationship since Meruelo acquired GSR in 2011.
Athletic success at the university historically draws crowds, with standout seasons—like the 2010 football season led by quarterback Colin Kaepernick or the 2018 basketball season with the Martin twins—firmly etched in local memory. However, the competitive nature of the current NIL environment has prompted administrators to seek even greater investments in player recruitment. Nevada Athletic Director Stephanie Rempe affirmed, "We’re investing in our basketball program because everybody wants them to be successful now, and it’s important to the Meruelos when we go into that venue that we’re winning and attracting people."
This unique collaboration between the GSR and the university is relatively uncommon, as few college teams utilize off-campus facilities, with UNLV’s football team at the Raiders’ Allegiant Stadium being a primary example. Rempe has engaged with other colleges regarding management practices for off-campus venues but recognizes that this setup may be unprecedented at a private casino-owned property.
The interaction between college athletics and sports betting is complex, marked by challenges. Despite legal wagering on in-state college athletics in Nevada since 2001, there are ongoing concerns regarding the implications for student-athletes amid recent scandals. As games will soon take place in close proximity to betting counters, Rempe emphasized the need for education around gaming when supporting student-athletes.
Abraham echoed this sentiment, explaining that hosting Nevada athletics is a natural extension of GSR’s long-standing engagement with the community. He stated, "Hosting Nevada athletics is really nothing different than what we’ve been doing all along, but we will do whatever the university requests to ensure a welcoming environment."
As Meruelo’s significant investment unfolds, Reno is experiencing a resurgence in tourism and gaming revenue. The city reported $825 million in gross gaming revenue for the fiscal year that ended in July, marking a 7% increase from the previous year—an impressive statistic for a market generally stable in its results. This growth trend is evident in the latest figures, with August posting a 15% year-over-year increase in revenue, alongside record-breaking hotel room revenue every month from January to June and new monthly records established in January, April, and May.
Mike Larragueta, president and CEO of Visit Reno Tahoe, expressed optimism, stating, "We’re proud of these results, but our work is focused on what comes next. 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, reflecting on his time in Reno and the recent transformation of the market, stated, "As you can clearly see, it is happening. It is definitely happening. There are a couple hundred people right now out there building what is going to be just a wonderful experience for the entire city. So we couldn’t be more excited about that.
