Visitreno

[lvbear584]

http://news.rgj.com/apps/pbcs.dll/article?AID=/20070801/BIZ04/708010412/1071/BIZ

The Grand Sierra is on solid financial ground, Schrade said ...

LOL. Yup, companies on solid financial ground often ask their employees to take pay cuts.

This situation was predictable. In fact, I hate to say "I told you so," but I did, about nine months ago:

Unless ownership quickly replaces the current incompetent management, I think it is doomed to failure. Reno doesn’t need another boarded-up casino. I hope they take corrective action and are able to survive.

http://www.thebeargrowls.com/?p=50

Grand Sierra is already about as cheap as a place can get with its comps, so it probably can't chase off any more patrons than it already has by comp-cutting.

Maybe someone can wake up the sleeping senior managers and talk them into hiring competent management for the casino. Sadly, it might already be too late to salvage the place. I hope not, because I would like to see it hire competent management, survive and prosper. With the present bozos in charge, its chances appear slim.

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My casino-related website: www.TheBearGrowls.com

[remano]

[quote="lvbear584"]* * *
Maybe someone can wake up the sleeping senior managers and talk them into hiring competent management for the casino. * * *

This might be difficult, given that the managers are taking a 10% pay cut along with the hired help. It's not a place I regularly visit, but I still hope they succeed in all their plans.

[stan_allen]

I wish I could say I'm surprised, but I can't, 'cuz I'm not.

In fairness, I should say that I haven't actually been inside the place since it officially became the "Grand Sierra"; I stayed there once just as Hilton was winding down, and I figured that the general malaise on display was due to the upcoming transition.

It's no shock that the gloom continued, though I wished them well - one only has to look at the rise and crash of the "Golden Phoenix" to see how NOT to handle an ex-Hilton Reno-area hotel/casino.

The regularity with which I receive solicitations to buy a condo in the Grand Sierra is comparable to that of the train whistles in the downtown during the pre-tunnel era, but I suspect that those units are not exactly flying out the door, so to speak.

It would be interesting to know what those salaries were and will be after these pay cuts, though they'll guard that info closely...it would give us an insight into what it takes to run such a joint.

[CaSwede]

This is really a sad story. I am not sure what they should do to make this place profitable, and will let others come up with solutions. It seems that this place has always had trouble making money. I remember it used to be Bally's. ??? Then was it MGM?? I do know that when it was the Reno Hilton, it was on the market for years with no takers after they saw how much money this place was bleeding every month.

It really is a nice facility.... Good luck GSR.