Visitreno

Zydeco · Joined: 03 Sep 2008 Posts: 302

Guess that "Party Pit" concept is not panning out too well. Surpise, suprise.

http://cbs13.com/wireapnewsca/Siena.Hotel.Spa.2.1390187.html

JD · Joined: 18 Dec 2005 Posts: 956

"Dec 24, 2009 12:34 pm US/Pacific Downtown Reno Casino Gets Notice Of DefaultRENO, Nev. (AP) ― The Siena Hotel Spa Casino in downtown Reno has received a notice of default and threat of a foreclosure sale."

I would be some kinda POed if I had a bunch of club points that just got flushed down the crapper.

While sad to see another one bite the dust, my experience a couple years ago with the surveilance cam in the parking lot seemed like an omen then.

I guess it's a little late to turn the rooms into condos, huh?

remano · Joined: 20 Dec 2005 Posts: 717

Hey, take it easy on the Siena ... it's ONLY 50 million dollars after all. That's chump change, like, what John ... two weeks' allowance for Charlie and Higgins? Something like that. I hope they can turn it around but with all the casinos hurting and Siena's inconvenient location they're up against a lot. But, as the dealer said when I put my money on the table, "Good luck!!"

spinner · Joined: 19 Dec 2005 Posts: 62

It is only a matter of time before the Siena gets washed into the history books, like the Holiday did. Casinos in that area have not fared well, such as the Mapes, the Pioneer, etc. If I recall the Holiday sold for just over $2 million and they did alot of renovation. I think that $50 million might be a gamble that investors will not make.