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1. Fitzgeralds Tunica Concerts
2. Fitzgerald Casino Upcoming Events

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Fitzgeralds Gaming was a gaming and hotel company based in Reno, Nevada, that operated four casinos under the Fitzgeralds brand. It filed for Chapter 11 bankruptcy in December 2000, and subsequently sold all its properties.

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• 1History

History[edit]

Fitzgeralds Tunica Concerts

Lincoln Management[edit]

Lincoln Management Inc. was founded in 1984 by Philip Griffith and several other former casino executives of the Summa Corporation, who had worked at Harolds Club in Reno and the Sands Casino in Las Vegas.^[1] It was formed to assume the management of the nearby Fitzgeralds Hotel-Casino under a contract with the casino's owner, Meta Fitzgerald.^[1] Fitzgerald had operated the property since the 1981 death of her husband, the casino's founder, Lincoln Fitzgerald.^[2] The new company's management agreement took effect in April 1985.^[3]

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In December 1986, Lincoln Management exercised an option to buy Fitzgeralds from Meta Fitzgerald for $26 million.^[4] On the same day, the company also assumed management of the Nevada Club, a nearby casino also owned by Fitzgerald; the property was closed briefly before reopening under the company's management in February 1987.^[5][6][7]

Also in December 1986, the company expanded into Southern Nevada, taking over management of the Sundance casino in Downtown Las Vegas for its owner, Moe Dalitz.^[8] The following year, Lincoln's principals partnered with members of Oppenheimer & Co. to purchase the property from Dalitz.^[9] The Sundance was rebranded under the Fitzgeralds name in March 1988.^[10]

In 1988, Lincoln Management bought Harolds Club from the Summa Corporation,^[11][12] and also acquired the Nevada Club from Fitzgerald.^[13]

In April 1993, the company was selected by the Oneida Indian Nation to assist in developing the Turning Stone Casino and to manage the casino.^[14][15] Before opening, however, the tribe opted instead to self-manage the casino.^[15]

In May 1993, the company received preliminary approval for a casino to be built near Tunica, Mississippi.^[16] Fitzgeralds Tunica opened in June 1994, at a cost of $46 million.^[17][18] A hotel was added to the casino in 1996 at a cost of $34 million.^[18]

In 1993, the company made a bid for the last available gaming license in the Kansas City area, proposing a $145 million casino in Sugar Creek, Missouri.^[19] The license was awarded to Station Casinos instead, to build what is now the Ameristar Casino Kansas City. Station was later investigated for improper contact with the president of the gaming commission, and Fitzgeralds sued and received a $38 million settlement in 2004.^[20]

Fitzgeralds Gaming[edit]

In 1994, Lincoln Management was reorganized as Fitzgeralds Gaming Corp. in preparation for a potential initial public offering.^[21][22] The IPO was canceled, however, in 1995, because of weak stock market demand for mid-size casino companies.^[23]

In May 1995, the company opened Fitzgeralds Black Hawk in Black Hawk, Colorado. The company had assumed management of the casino and licensed the Fitzgeralds name to what had previously been the 101 Main Street Casino.^[24][25] Fitzgeralds Gaming bought a 22 percent interest in the casino in February 1996 for $2.5 million, and then bought the remaining 78 percent in August 1997 for $27 million.^[24][26]

Another casino under the company's management, the Cliff Castle Casino in Camp Verde, Arizona, owned by the Yavapai-Apache Nation, opened on the same day as Fitzgeralds Black Hawk.^[27] Fitzgeralds operated the casino until 1998, when the tribe bought out the management agreement for $8 million.^[28]

Meanwhile, Fitzgeralds disposed of two of its smaller properties. The company closed Harolds Club in March 1995 and sold it two months later for $8.9 million.^[29][30] The Nevada Club was closed in December 1997, and six months later was sold to the neighboring Harrah's Reno for $3.8 million.^[31][32]

In 1999, the company found itself in financial difficulty because of slower than expected growth and stiff competition.^[33] It defaulted on payments to bondholders in July 1999, and began negotiating a debt restructuring.^[34] A deal was ultimately reached for the company to sell three of its casinos (Las Vegas, Tunica, and Black Hawk) to Indiana-based Majestic Star Casino for $149 million, and for bondholders to forgive much of the company's remaining $205 million in public debt.^[35] The plan was filed in December 2000 as a prepackaged bankruptcy case.^[35] The sale of the three properties was completed in December 2001.^[36]

The agreement with bondholders also called for Fitzgeralds Reno to be sold.^[37] No buyer was readily found, because of concerns about competition from Northern California Indian casinos and disruption from a railroad construction project next to the property.^[38] In 2003, the casino was taken off the market, and ownership of Fitzgeralds Gaming was transferred to its creditors, a group of institutional lenders.^[39]

Fitzgeralds Reno was finally sold in November 2007 to L3 Development, developer of the neighboring Montage Reno condominiums, leaving Fitzgeralds Gaming with no remaining operations.^[40][41]

List of properties[edit]

• Fitzgeralds Black Hawk — Black Hawk, Colorado (sold in 2001)
• Fitzgeralds Las Vegas — Las Vegas, Nevada (sold in 2001)
• Fitzgeralds Reno — Reno, Nevada (sold in 2007)
• Fitzgeralds Casino & Hotel Tunica — Tunica, Mississippi (sold in 2001)
• Harolds Club — Reno, Nevada (closed and sold in 1995)
• Nevada Club — Reno, Nevada (closed in 1998; sold in 1999)

References[edit]

1. ^ ^abVoyles, Susan (October 30, 1984). 'Summa execs resign to run Fitzgerald's'. Reno Gazette-Journal – via Newspapers.com. (Part 2 of article)
2. ^Kling, Dwayne (2010). The Rise Of The Biggest Little City: An Encyclopedic History Of Reno Gaming. University of Nevada Press. p. 51. ISBN0-87417-829-0.
3. ^Voyles, Susan (March 22, 1985). 'Fitzgeralds partners given licenses'. Reno Gazette-Journal – via Newspapers.com.
4. ^Anderson, Tim (March 16, 1987). 'Betting on a turnaround'. Reno Gazette-Journal – via Newspapers.com. (Part 2 of article)
5. ^Miller, Ken (January 1, 1987). 'Historic Nevada Club closes its doors'. Reno Gazette-Journal – via Newspapers.com.
6. ^Miller, Ken (January 31, 1987). 'Nevada club reopens Tuesday with '40s look'. Reno Gazette-Journal – via Newspapers.com.
7. ^Jerkovich, Roger (February 4, 1987). 'Awaiting opening'. Reno Gazette-Journal – via Newspapers.com.
8. ^Morrison, Jane Ann (November 26, 1986). 'Fitzgerald's operators to run Sundance in Vegas'. Reno Gazette-Journal – via Newspapers.com.
9. ^'After 3 years, gaming panel OKs sale of Sundance'. Reno Gazette-Journal. AP. October 16, 1987 – via Newspapers.com.
10. ^'Fitzgeralds to hold fetes'. Reno Gazette-Journal. March 17, 1988 – via Newspapers.com.
11. ^Morrison, Jane Ann (May 20, 1988). 'Gaming Commission rules out slots in art galleries'. Reno Gazette-Journal – via Newspapers.com.
12. ^Voyles, Susan (August 7, 1988). 'Casino owners miffed, want downtown cleaned up'. Reno Gazette-Journal – via Newspapers.com.
13. ^Stearns, John (February 7, 1996). '$6 million price tag on Nevada Club'. Reno Gazette-Journal – via Newspapers.com. (Part 2 of article)
14. ^Gonzalez, Daniel (June 18, 1993). 'Oneidas picked a winner to run casino, experts say'. The Post-Standard. Syracuse, NY – via NewsBank.
15. ^ ^abForm 10-K405: Annual Report (Report). March 31, 1997. p. 11 – via EDGAR.
16. ^Campbell, Sarah C. (May 25, 1993). 'Nine Tunica casino sites win OK'. The Commercial Appeal. Memphis, TN – via NewsBank.
17. ^Lollar, Michael (July 17, 1994). 'Gaming choices are just short drive from Memphis'. The Commercial Appeal. Memphis, TN – via NewsBank.
18. ^ ^abForm 10-K405: Annual Report (Report). Fitzgeralds Gaming. March 31, 1998. p. 5 – via EDGAR.
19. ^'Suit: Station 'rigged game' to get license'. Lawrence Journal-World. 22 December 2000. Retrieved 12 October 2011.
20. ^'Station Casinos settles for $38 million in Missouri'. Las Vegas Review-Journal. 12 February 2004. Retrieved 12 October 2011.
21. ^Robbins, James (December 10, 1994). 'Fitzgeralds considering going public'. Reno Gazette-Journal – via Newspapers.com.
22. ^Robbins, James (August 3, 1995). 'Fitzgeralds mulls public offering'. Reno Gazette-Journal – via Newspapers.com. (Part 2 of article)
23. ^Robbins, James (October 24, 1995). 'Fitzgeralds cancels public offering'. Reno Gazette-Journal – via Newspapers.com.
24. ^ ^abStearns, John (March 2, 1996). 'Fitzgeralds closer to ambition in Colorado'. Reno Gazette-Journal – via Newspapers.com.
25. ^Form 10-K405: Annual Report (Report). Fitzgeralds Gaming. March 31, 1997. p. 9 – via EDGAR.
26. ^Form 10-K405: Annual Report (Report). Fitzgeralds Gaming. March 31, 1998. p. F-16 – via EDGAR.
27. ^Form 10-K405: Annual Report (Report). Fitzgeralds Gaming. March 31, 1997. p. 2 – via EDGAR.
28. ^Form 10-K: Annual Report (Report). Fitzgeralds Gaming. March 30, 1999. p. 9 – via EDGAR.
29. ^Cox, Don (April 1, 1995). 'Harolds Club closes'. Reno Gazette-Journal – via Newspapers.com.
30. ^Form 10-K405: Annual Report (Report). Fitzgeralds Gaming. March 31, 1997. p. F-30 – via EDGAR.
31. ^Cox, Don (December 30, 1997). 'Nevada Club shut down ahead of schedule'. Reno Gazette-Journal – via Newspapers.com.
32. ^Stearns, John (June 19, 1999). 'Harrah's comes through'. Reno Gazette-Journal – via Newspapers.com.
33. ^Wilen, John (May 20, 1999). 'Fitzgeralds pumps funds into casinos, restructuring debt'. Las Vegas Sun. Retrieved 2018-06-18.
34. ^Strow, David (July 26, 1999). 'Bankruptcy likely for LV casino company'. Las Vegas Sun. Retrieved 2018-06-18.
35. ^ ^ab'Fitzgeralds in bankruptcy, three casinos being sold'. Las Vegas Sun. December 6, 2000. Retrieved 2018-06-18.
36. ^Flaum, David (December 7, 2001). 'New owners at Fitzgeralds; Indiana firm takes charge'. The Commercial Appeal. Memphis – via NewsBank.
37. ^Stearns, John (May 10, 2001). 'Fitzgeralds earnings down in 1st quarter'. Reno Gazette-Journal – via Newspapers.com.
38. ^Walsh, Thomas J. (March 15, 2003). 'Fitzgeralds proving to be a tough sell'. Reno Gazette-Journal – via Newspapers.com.
39. ^Walsh, Thomas J. (August 26, 2003). 'Fitzgeralds gets new owners, management'. Reno Gazette-Journal – via Newspapers.com. (Part 2 of article)
40. ^'L3 Development completes purchase of Fitzgeralds Casino/Hotel' (Press release). L3 Development. November 1, 2007 – via BusinessWire.
41. ^Riley, Brendan (October 19, 2007). 'Cashell's son to run Fitzgeralds'. Reno Gazette-Journal. AP – via Newspapers.com.

Further reading[edit]

Fitzgerald Casino Upcoming Events

• Sunzeri, Jeff. 'The Nevada Club.' Gold Star. 2016 ISBN978-0996217712

Whitney Peak Hotel (formerly Fitzgeralds Reno and CommRow) is a hotel and former casino located in Downtown Reno, Nevada. It is owned and operated by DRW Holdings LLC.

• 1History

History[edit]

Fitzgeralds Reno (1976–2008)[edit]

Lincoln Fitzgerald, owner of the Nevada Club casino, began construction on a new 16-story, 347-room hotel and casino in 1974.^[1] Fitzgeralds Reno opened on May 17, 1976, at a total cost of $16 million.^[1]

After Fitzgerald's death in 1981, his widow, Meta, sold the property in 1986 to the Lincoln Management Company for $26.25 million.^[1]

Fitzgerald's Reno was the last of 4 properties owned by Fitzgeralds Gaming to be sold after the company filed for Chapter 11 bankruptcy protection in 2000. Prior to this, sister properties were located in Las Vegas, Tunica, Mississippi and Black Hawk, Colorado.

In 2005, Monarch Casino & Resort, Inc., owner of Atlantis Reno, attempted to acquire Fitzgeralds Reno. In April 2007, L3 Development, a development firm based out of Chicago, Illinois, announced its intention to purchase the property and convert it into a boutique hotel.^[2]

On November 1, 2007, ownership of Fitzgeralds Reno officially transferred to a joint partnership between L3 Development and RAC II LLC, marking the first time in decades that the property was under private ownership.

The Rainbow Bridge[edit]

The frequent nature of rail traffic along the First Transcontinental Railroad would often make access to the Fitzgeralds from the north inconvenient. As a result, sometime in the 1990s, Fitzgeralds undertook the construction of a footbridge across the tracks to the north, accessible from a structure modeled as a castle tower erected at the southwest corner of Virginia Street and Third Street (directly across the street from the entrance to the Eldorado). Guests would enter the base of the tower, ascend a set of escalators (they only went up; those wishing to exit the property via the bridge would have to wait for an elevator), and upon crossing the bridge, end up in the Lucky Forest. Due to the construction of the ReTRAC train trench, the bridge was determined to be in conflict with necessary structural elements of both the trench itself, as well as the resulting Virginia Street overpass. This, along with the trench rendering the bridge both redundant and unnecessary, ultimately led to its demolition in 2007.^[3][4]

CommRow (2011–2013)[edit]

On October 1, 2008, Fitzgeralds Reno announced its imminent closure in November 2008. 470 employees were laid off and the new ownership evaluated options for the property. The lower floors re-opened as CommRow on October 1, 2011 with the world's tallest climbing wall constructed on the exterior, CommRow was designated to have a hotel component but this never materialized and the business model as a whole, struggled and closed down on January 1, 2013.

Whitney Peak Hotel (2014–present)[edit]

Whitney Peak Hotel was announced as CommRow's replacement and the Chicago-based ownership decided it was going to gut the aging structure and rebuild from scratch, the multi million renovation has culminated to a grand opening set for Memorial Day weekend 2014. The completely renovated property will show no trace of the prior CommRow or Fitzgeralds Reno. The 164' exterior climbing wall and indoor climbing boulders are the only remnants from the past business model. On the 1st floor, Chicago's 555 International design firm has laid out a completely new floor plan where slots and table games used to be, Heritage, a new American urban hip restaurant which opened under the direction of celebrity chef Mark Estee and Cargo, an 1100 capacity concert venue. The 2nd floor reopened as BaseCamp, completely renovated. And 157 of the hotel's more than 300 rooms have been renovated and reopened.

References[edit]

1. ^ ^abcKling, Dwayne (2010). The Rise Of The Biggest Little City: An Encyclopedic History Of Reno Gaming. University of Nevada Press. p. 50. ISBN0-87417-829-0. Retrieved 2013-09-23.
2. ^'Chicago development company agrees to buy aging Reno casino'. April 7, 2007. Archived from the original on September 27, 2007. Retrieved 2007-08-12.
3. ^'Reno Railroad Corridor, Reno: Environmental Impact Statement, Volume 2'. December 2000. Retrieved 2019-11-11.
4. ^'Fitzgerald's Rainbow Bridge'. Retrieved 2019-11-11.

External links[edit]

• Official website

Coordinates: 39°31′41″N119°48′50″W / 39.527959°N 119.813897°W