El Dorado Reno doing $24 Million Remodel

[DGenBen]

Maybe this is why they are cutting VP pay tables to pay for this.

https://www.downtownmakeover.com/eldo-room-remodel

[Dan Druff]

Interesting.

They had completely stopped all renovations aside from the conversion of Harvey's to Caesars Republic Lake Tahoe (lol).

I guess they have restarted.

The VP paytable cut being related to this may actually be some of the story. This might be part of some weird market shift attempt, where they're trying to bring tourists to Reno, and they figure that tourists are much less sensitive to VP paytables than locals (especially in a market where other properties have good paytables).

[DGenBen]

I actually don’t think it was necessarily a choice.

Another property starting to deteriorate to the point that patches won’t work anymore.

They either had to make a decision to fix it up right or shutter it.

Kind of like that old beater car a lot of us had in high school or college.