Sunday, March 16, 1997 | 11:59 a.m.
"I think it's a crisis," Robert Barone, chairman and chief executive officer of Reno-based Comstock Bank, said of Reno's tourism climate.
City leaders have not moved quickly enough on downtown redevelopment needed to enhance Reno's economic prospects, Barone told the Reno Gazette-Journal.
To reverse the situation, he said, the city must make better use of eminent domain to condemn rundown properties and clear the way for new projects.
Local leaders should open a downtown convention center to spur business, and increase gaming's representation on the Reno-Sparks Visitors & Convention Authority, Barone added. Currently, three of 12 members represent casinos.
Reno Mayor Jeff Griffin did not return a phone call.
William Douglass, co-owner of the Comstock and Riverboat hotel-casinos, said he agrees with the need for downtown improvements, but is cautiously optimistic.
"I don't disagree with Mr. Barone; I would find it hard to rebut his pessimistic view, but I also do think that there's some life and some signs of political will," Douglass said.
The city is taking over some older downtown properties, and has demolished some with plans to raze more, Douglass said.
"They seem to be very committed to some redevelopment of the (Truckee) river corridor and that, in my mind, is reason for optimism," he said.
However, Barone said he isn't convinced that the river corridor is the best place to invest after the New Year's floods that forced some of Reno's 24-hour casinos to close for the first time anyone could recall.
Barone's suggestions are outlined in Comstock Bank's latest "Survey of Nevada Business & Economics" for the quarter that ended Dec. 31.
"Gaming is an industry sector that we cannot turn out back on," the report says.
"The loss of tourists and further declines in business activity will increasingly affect our job base, our income and spending levels, our ... taxes, which in turn will affect our ability to (maintain services)."
Reno casinos reported flat winnings last year.
archive
