September 21, 2014
RENO, Nev. (AP) - The owner of Harrah's Reno wants to make clear the downtown hotel casino is not for sale.
Gary Thompson, a spokesman for Caesars Entertainment, says any confusion stems from a state tax panel meeting in Carson City on Monday where a Harrah's consultant indicated the property built in the 1960s was in need of repairs and only worth about $8 million.
Thompson told the Reno Gazette-Journal on Wednesday the $8 million is the value of the real property, not the value of the business itself. He says Harrah's Reno is not for sale, and certainly not for $8 million.
The state Board of Equalization agreed to lower the property's taxable value from $20.5 million to $16.2 million. Harrah's argued the building is worth $8.8 million.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or firstname.lastname@example.org.