Filed under: Luxury Travel & Hotels
Earlier this year, the Siena Hotel Casino in Reno, Nevada filed Chapter 11 bankruptcy and eventually closed its doors. But the hotel could be primed to return. This week it was sold at auction for $3.9 million to a group of investors who plan to reopen it under the same name. U.S. Bankruptcy Judge Gregg Zive approved the sale of the Siena Hotel Spa Casino to Grand Siena LCC which beat out two other bidders, Stratus West and Northern Nevada Assets. The Reno Gazette-Journal quotes one of the new owners Jay Meilstrup, who says that the hotel is primed for a comeback. The resort will need a gaming license from the Nevada Gaming Commission and a liquor license to be back in business. The business owed about $50 million to creditors and the money from the sale will go to creditors. The buyers bought the hotel free and clear in a deal that covered the property and everything in it as well as the website.