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The Eldorado Resorts to Make Millions as it Partial Turns to College Dorm

The University of Nevada-Reno (UNR) has finally found out a housing solution for the students. The UNR was searching the housing for the students desperately after the boiler explosion. Even though there wasn’t any death from the explosion, but eight people were injured. The search has now been zeroed down and the Circus Circus has been chosen to serve as the dorm for the students. Eldorado Resorts is a few blocks away from the college and thus it was a suitable choice as well. The UNR gets its place for the students after the tragic incident and Eldorado could save an additional $2m from local taxes with that deal. It would also ensure that the students can progress towards the Degree without much distraction. The deal would ensure that one of the hotel towers would be used for the students; it has been named as the Wolf Pack Tower, named after one of the Sport’s Teams of the School.

The report suggests that UNR would pay $21.6m to the Casino to provide the housing for the students. The 1300 students would now stay at the Wolf Pack Tower, hence there will be no Standard Tax imposed on Wolf Pack Tower as well. The standard room tax for the state is around 13.5% and Eldorado can forgo that now.

However, it is better a deal than it sounds. With all obvious reasons, the students would not have any direct access to the Casino. There is a skyway between the two towers which has now been closed. So, the Casino remains standalone. The students might try to enter the casino through the main entrance, but that isn’t going to be easy either and there would be monitoring.

This might not be very good news for the gambling patrons as the Circus Circus is closed now. They might need to stay at higher price accommodation now or look somewhere else to stay.

Source: https://calvinayre.com/2019/10/01/casino/eldorado-making-millions-leasing-out-reno-property-as-a-college-dorm/


About the author

Debopom Sanyal

Debopom Sanyal

Debopom is a web journalist and news enthusiast. He has been writing about world politics, science, health, finance, and technology. An avid sports enthusiast, Debopom has done his Masters in Finance and Bachelors in Engineering.

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