Grand Sierra Resort and Casino in Reno, Nevada sold

Feb 28, 2011 7:54 PM

The sale of the Grand Sierra Resort and Casino in Reno, Nevada, to a group of California investors was reported last week. The deal is expected to be completed in March.

Terms of the deal were not revealed by the Meruelo Group but its founder, Alex Meruelo said in a statement that the day-to-day operation would continue without interruption.

In the past few years, the property has been managed by the Navegante Group of Las Vegas.

The property opened in 1978 as MGM Grand and was purchased in 2005 by Caesars Entertainment. Two years ago it was taken over by a subsidiary of JP Morgan Chase & Co.