Gaming briefs for Jan. 22, 2004

Thursday, Jan. 22, 2004 | 11:02 a.m.

Competition from California leads to closure of Reno casino

PDS Gaming Corp. of Las Vegas said Wednesday it will close its Rocky's Casino & Sports Bar in downtown Reno at midnight on Saturday, Jan. 31.

"Despite significant investments in the property by the company, the casino continued to incur operating losses," PDS Gaming said in a statement. "The expansion of casino gaming in Northern California has continued to hurt the Reno market."

Las Vegas-based PDS Gaming acquired the property, then known as The Gambler, in 2001. The following year it was renovated and reopened as Rocky's.

The company has obtained authorization from state regulators to close the location.

"The company intends to explore all appropriate alternatives relative to the property, including the possible identification of a franchise arrangement, joint venture partner, sale or lease," said PDS, which primarily provides leasing services for casinos.

Longtime gaming exec Goeglein appointed to board

The former president of the Aladdin hotel-casino has been appointed to the board of directors of Las Vegas-based Pinnacle Entertainment Inc.

Richard Goeglein, a casino, hotel and restaurant executive for more than 40 years including seven during which he headed Harrah's Hotels and its then-parent company, Holiday Corp., joined the board Dec. 12. He replaces Bonnie Reiss, who resigned to become a senior adviser to California Gov. Arnold Schwarzenegger.

Goeglein, who was president of Aladdin Gaming LLC and Aladdin Gaming Holdings LLC from 1997 to 2001, has a wrongful-termination and breach-of-contract lawsuit pending against the Aladdin that is awaiting adjudication in Clark County District Court and the U.S. Bankruptcy Court in Las Vegas.

Goeglein and Pinnacle Chief Executive Dan Lee are reuniting after serving together at other gaming companies. Pinnacle recently was selected by Missouri officials to develop a casino in St. Louis and is building a resort in Lake Charles, La.

The company has eight casinos, four with hotels, in Nevada, Mississippi, Louisiana, Indiana and Argentina, and leases property to two card club operations in Southern California.