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Grand Sierra Resort receives $1 billion private capital investment

29 September 2023

(PRESS RELEASE) -- Grand Sierra Resort in Reno, Nev. announced what will be the largest private capital investment in the city’s history. Plans are underway to infuse approximately $1 billion into the existing 140-acre property over the next decade.

The centerpiece of this visionary project is a cutting-edge arena, designed to host various events such as concerts, special events, basketball games, and other sports, with a capacity exceeding 10,000 seats. The arena will span approximately 300,000 square feet and offer contemporary amenities, including suites and premium hospitality clubs.

Grand Sierra Resort Owner Alex Meruelo and University of Nevada, Reno President Brian Sandoval also announced the exploration of a partnership with the Nevada men's basketball team, which could make the arena their home upon completion of construction.

“The vision is to transform GSR into a destination where community, sports and entertainment come together,” said Meruelo.

“The University of Nevada, Reno is excited to explore the opportunity to partner with Alex Meruelo and Grand Sierra Resort as they develop a state-of-the-art arena and entertainment district that is unprecedented in Northern Nevada,” said Sandoval. “The new arena will include amenities that create a fan and game experience that are second to none.”

Expanding beyond the arena, the plans encompass a comprehensive beautification of Grand Bay. This will include the creation of an active golf facility and entertainment destination, a scenic walking path and a captivating water show.

In response to the anticipated surge in demand, plans are also in place for an 800-room hotel tower. One or more parking garages will be constructed to ensure seamless access to these new facilities.
Recognizing the need to support the growing workforce essential to the success of these ambitious projects, the initiative will include the creation and construction of approximately 300 affordable riverfront residential units.

“This is an incredible and historic investment by Mr. Meruelo and a true game changer for our community," said Reno Mayor Hillary Schieve. "It's a massive win for our citizens, a win for the University of Nevada and a win for tourism. Thank you, Mr. Meruelo, for your vision and faith in our great community."

“The precipice of an extraordinary transformation is upon us,” said Meruelo. “This will not only redefine Grand Sierra Resort but also elevate Reno to new heights in the realm of entertainment and sports. We recognize and value the community's support and enthusiasm as we commence this journey together.”

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