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November 10, 2009

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Riverboat Casino closes in Reno

Monday, Nov. 30, 1998 | 5:06 a.m.

The casino closed its doors to customers for good on Monday and will be dismissing all of its 375 employees over the next few weeks, casino officials said.

Owner William Douglas said he had been negotiating with other companies to purchase the casino with an exterior shaped like a riverboat.

He said his most recent prospective buyer dropped out the day after California voters approved Proposition 5, legalizing gambling on Indian reservations in that state.

"The business climate in downtown Reno and northern Nevada and the gaming industry has been very, very soft this year," Douglas said.

"We essentially ran out of hang time facing the winter," he said.

Winter historically is the slowest time of year for casinos in Reno.

The Riverboat is located within two blocks of the Truckee River and had to close temporarily for the first time during the last big flood in January 1997.

The Holiday Casino, on the banks of the Truckee River, closed last month, leaving 184 workers without jobs.

The Nevada Club closed in December 1997 and Harolds Club closed in 1995.

Douglas said he planned an auction in the coming weeks or months to try to recoup some money.

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