Hard Rock Hotel & Casino Lake Tahoe that will take the place of the old Horizon casino will open doors in the second half of January, 2015. Its executives announced that they would like for the new venue to generate most of its turnover from non-gambling activities.
It will provide its guests and visitors with the opportunity to choose between four new restaurants, special music-themed rooms, live entertainment options, and last but not least – a considerably smaller gaming facility.
As it was stated, only 25,000 square feet will be intended for gambling. By comparison, the Horizon casino could boast of a 40,000-square-foot gaming area.
Don Marrandino, current COO at the Hard Rock Tahoe, claimed that a business cannot flourish if it is focused solely on gambling. He also said that they expect at least half of the facility’s turnover to be generated out of non-gaming activities.
The property was closed back in March, 2014, and it is now entering the final stages of its refurbishment. $60 million were invested for the purpose. In addition, the neighboring Montbleu resort is also currently being renovated and it was estimated that the amount of $24 will be spent on the project. Mr. Marrandino commented on this as an excellent way to make the area a more attractive destination.
He also shared that the new Hard Rock Hotel & Casino will feature luxurious accommodation options as well as a great diversity of entertainment ones. The venue is to open doors on January 29. Marrandino promised that their guests will have the opportunity to choose between a wide range of ski packages during the winter. As for the summer, they will be able to enjoy glamorous night parties around the pool.
Hard Rock’s guests will also be given the chance to take advantage of Tahoe’s natural surroundings. Biking and hiking will be among the most attractive fitness programs that the venue is to offer. Marrandino shared that the complex will also feature a spa at some point in the future.
It could be said that this project is quite ambitious and risky at the same time. Popular casino operators have been trying to enhance their turnover from non-gambling activities rather than from gambling ones for more than 20 years. And this strategy proved to be successful in Las Vegas. Yet, the results in Northern Nevada were less impressive.
Last year, only 37% of major Las Vegas casinos’ revenues were generated from gambling. Major Reno casinos, however, got 52% of their turnover from gaming activities.
Despite this trend, Ken Adams, a gambling consultant in Reno, stated that Mr. Marrandino had all the experience needed to succeed in his endeavor.
The Horizon casino, which opened doors for visitors back in 1965, was shuttered in March. Its owners, the Park family, started a collaboration with the Las Vegas-based company Warner Hospitality which operates the Hard Rock casinos in Vegas and Sioux City, Iowa. Mr. Marrandino was appointed to supervise the renovation process of the Tahoe property.
He announced that the casino will feature 500 slot machines and 24 table games. He also pointed out that if their strategy fails, they will be more than glad to add more gaming devices and tables.
