The Bonanza Inn in downtown Reno is finally going to auction.
It looks like the probate hearing for Bonanza Inn is November 29 at 10 am. Here's a link detailing the hearing.
The sales price is $3 million. Renown Health is listed as an interested party. Interesting! I'm a newbie in interpreteting probate hearing info, but it also appears one of the family members of the selling party is also listed as an 'interested party', John Gorham, who was featured in this RGJ article highlighting the issues with the property.
Jacobs Entertainment also sent out a press release to local media ahead of their November 15 City Council Meeting development agreement review, signaling he was also going to put in a 'strong bid' for the property as well, although Jacobs Entertainment is not listed as an interested party on the page link.
Jacobs will have to overbid to get the property. But, considering he has overpaid for the majority of properties he purchased in west downtown, particularly after his buying spree began to get press (he paid $10 million most recently for the Desert Rose Inn, of which a demolition permit was submitted for), it;s not out of the realm of possibility he could easily outbid Renown for the property.
The Reno Housing Authority was interested in the property at one point, and had money from the City of Reno earmarked for it, but I think that money was directed toward other housing projects.