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Reno Feeling California Casino Competition

RENO, Nevada – As reported by the Associated Press: "Reno casinos continue to feel the pinch of growing competition from California Indian casinos.

"The Eldorado Hotel & Casino reported a 63 percent drop in third-quarter net profit from a year ago, the latest sign of trouble for Reno resorts.

"The nearby Circus Circus Hotel Casino earlier reported a 60 percent decline in third-quarter net profit. The Silver Legacy also reported a steep drop.

"Joe Brady, senior vice president of Wells Fargo Bank's gambling division in Reno, said hotel revenues are flat and gambling revenues are down.

"…Analysts blame the decline on the spread of California Indian casinos, especially the Thunder Valley Casino near Sacramento. Run by Las Vegas-based Station Casinos, Thunder Valley opened this summer…"

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