In the world of gaming, Jacobs Entertainment has already gained a prominent status. Now, it is going to make another significant achievement in its history by purchasing Sands Regency Casino Hotel and some blocks of Reno. To procure the land of Reno Housing Authority, this giant casino operator has invested one million dollar. In addition to it, the deal also comprises some houses that worth $1.5 million.
Two Fourth Street blocks, acquired by Jacobs, are between Arlington and Washington. It includes motels, houses, two motels and exposed land. However, two present apartments, lying between Ralston and Washington aren’t included in the land deals. Director of the housing authority, Jones, said that he is now looking to observe Jacob’s contribution to West Fourth Street.
Jeffrey Jacobs, CEO of Jacobs Entertainment informed that initial purchase of the property constitutes almost ten million dollar. However, he has not revealed the future cost of development. The new plan of Jacobs will develop a lively district, next to Fourth Street. Simultaneously, the deal will also bring an improvement of Reno Housing’s effort. The community will get affordable and decent housing. Jacobs Entertainment has also declared about its another deal for acquiring Canyon Casino.