Boomtown reports loss
Boomtown Reno lost $1.5 million on revenues of $8.9 million in the fourth quarter, its owner, Pinnacle Entertainment Inc. of Las Vegas, said in a filing with the Securities and Exchange Commission last week.
A year earlier, the property lost $1.1 million on revenues of $13.7 million.
Pinnacle said a tough economy and increased competition from California casinos accounted for the fall in revenues.
With median price nearing $500,000, Reno’s ‘sizzling’ real estate market showing no signs of cooling in 2021
In Reno/North Valleys, the median home price shot up to a record high of $485,000 in October, a 5.4% bump from September and a 17% jump from last year. Reno-Sparks as a whole is at $455,000, and Fernley is above the $300K mark at $318,000.