Olympia Gaming Plans Sparks Casino - Wednesday 28th of June 2006
SPARKS, Nevada – Today, The City of Sparks and REDDevelopment, LLC announced that Olympia Gaming LLC, one of SouthernNevada's top real estate and casino developers, will build a casino resortand spa as part of The Legends at Sparks Marina outdoor shopping andentertainment destination development. Additional restaurants and retailersrecently committed to leasing at The Legends are Brooks Brothers, CantinaCorona, FreedomRoads/Camping World, Off Broadway Shoe Warehouse and Pin-UpBowl.
"I am absolutely delighted with the news today on the additionaltenants that will become part of The Legends at Sparks Marina," said SparksMayor Geno Martini. "Today's announcement only reaffirms the excitement anduniqueness that this project will bring to Sparks and the entire region. Inparticular, Olympia Gaming's new casino, resort and spa will be a firstclass facility that will go a long way in creating an unmatched and worldclass destination at The Legends."
Olympia Gaming's $500 million casino, resort and spa will be an upscaledestination ideal for visitors and locals alike. The 12-acre project willbe situated on Helms Lake and, at full build out, will feature:
* 1,000 generously-sized hotel rooms and suites, each appointed with rich amenities and featuring lake and mountain views
* A spacious casino including a wide array of slots and table games, a tournament-style poker room, and a state-of-the-art race and sports book
* Five fine dining and casual restaurant venues
* A high-end spa, fitness center and salon facility
* Private beach and swimming pool
* Lakefront amphitheater and water show
* A large-scale convention and meeting facility
* Abundant surface and garage parking
"This is a tremendous opportunity for the City of Sparks to raise itsflag as a true tourism destination," said Chairman and CEO of OlympiaGaming Garry Goett. "We've worked hand-in-hand with city officials and REDDevelopment to create a resort destination that places The Legends atSparks Marina on the map for tourism to this region. I envisionconstructing a spectacular resort that attracts visitors from all over theWest."
Phase one of Olympia Gaming's new casino, resort and spa will include500 rooms and is scheduled to break ground in early 2007 and open in late2008 or early 2009.
Destination development is an emerging trend in retail developmentwhich combines retail, one-of-a-kind entertainment and attractions,activities, learning opportunities, and unique dining options to facilitatean experience in which customers are participants. Unlike a typicalshopping center that draws visitors from within a 10-mile radius, theuniqueness of this destination development will attract most of itsvisitors from more than 100 miles away, with more than 10,000 visitorsexpected each day.
The plans for The Legends also include a minor league baseball stadium.RED Development continues negotiations with a top sports management companyto bring a minor league baseball team to Northern Nevada. RED Development'sdesign for The Legends at Sparks Marina includes a minimum of 800,000square feet of retail space and is estimated to cost up to $400 million.
The Legends at Sparks Marina is located at the intersection ofInterstate 80 and Sparks Blvd. Construction is scheduled to begin this falland The Legends at Sparks Marina is scheduled to open in spring 2008.
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