Jacobs Entertainment acquires Bonanza Inn in Reno, Nevada

In a surprise move, Jacobs Entertainment outbid local developer Marmot Properties for the Bonanza Inn in downtown Reno after initially stating it was no longer bidding on the property.

Jacobs bid $3,005,000 for the property at a probate sale on Friday, surpassing a previous purchase agreement made by Marmot for $3 million.

Jacobs Entertainment, which owns the J Resort hotel-casino and is also developing the Reno Neon Line District project, plans to turn the old motel into a property for workforce housing, according to CEO Jeff Jacobs.

“We will continue to move forward with chartering a new path for Reno’s Neon Line with the creation of high quality housing options as a key component of that vision,” Jacobs told the Reno Gazette Journal. 

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