Jacobs Entertainment is buying the Sands Regency Casino Hotel in Reno, Nev., and two blocks of surrounding property for million.
The purchase includes $1 million of Reno Housing Authority land and a donation of $1.5 million in housing stock citywide to the Housing Authority.
The initial property purchases total about $10 million, and $30 million for the purchase of the Sands. Reports are that Jacobs plans to revitalize the area as an urban destination.
Jacobs is also buying the city’s Gold Dust West Casino, which the Colorado-based company has operated for more than 10 years and has invested more than $50 million. No price was disclosed.
