Navegante: Grand Sierra casino on rise

The Navegante Group, the Las Vegas company that manages casino operations at the Grand Sierra Resort, says Reno's largest casino-hotel property has bucked regional trends and increased its gaming revenue.

November revenues at the Grand Sierra Resort rose 30.4 percent over the same month a year earlier, Navegante said last week.

That compares with a decline of more than 20 percent among other large properties in the area during the same period, the company said.

Gaming revenues at the Grand Sierra Resort were up 2.9 percent during the first 11 months of 2010, the company said, Navegante said last week.

It said its peer group of competitors was down 2 percent in the same period.

Navegante also says it's seen increased revenue at Red Lion Hotel & Casino in Elko.

The Red Lion, the largest hotel in Elko County, had increased table gaming revenue of 11.4 percent and a rise in slot revenue of 10.5 percent for the 12 months ended in November 2010.

During that time, properties elsewhere in Elko County posted a 2.6 percent decline in slot revenue and a 7.5 percent decrease in revenues from table games, the company said.

Navegante also operates the Gold Country Casino in Elko, where a new system added to the slot floor led to an increase of 27.7 percent in slot revenue for the same time frame.

Navegante says the opening of Aspen's Bar & Grill at the Red Lion led to increased visitors at the property.

The company also manages Casino Fandango in Carson City it's a part owner in the property but it didn't break out results for Casino Fandango.

Larry D. Woolf, chief executive officer of Navegante, said in a statement that the company attributes the improved results to fine-tuned operational strategies.

"Our gaming properties in northern Nevada have performed tremendously well in 2010," Woolf says. "We are always striving to improve our operations at all of our properties, and to do that our first goal is to get to know the need and wants of our clientele."