Nevada on line casino operators are once more staking a declare in California’s gold nation

SACRAMENTO —  Red Rock Resorts is aiming to strike gold once more in Northern California.

Along with Boyd Gaming and Caesars Entertainment, the corporate helps develop and function casino-resorts in tandem with space tribes in search of their piece of the nation’s largest Indian gaming state.

Red Rock, which operated Thunder Valley Casino close to Sacramento from 2003 to 2010 and the Graton Resort & Casino in Santa Rosa from 2013 to 2021, is again within the sport. The firm started building final 12 months on a tribal on line casino in Madera, 30 miles north of Fresno and 140 miles south of Sacramento. 

Boyd operates a on line casino within the Sacramento suburb of Elk Grove, whereas Caesars has one tribal on line casino in rural Ione and is creating a second property.

The present wave of Northern California tribal on line casino growth begs the query: Will California tribal gaming additional siphon enterprise from Northern Nevada’s two largest gaming markets, Reno and Lake Tahoe? 

It’s not a brand new concern, as Northern Nevada was hit exhausting after California tribal casinos emerged on the flip of the century. Since 2000, Reno’s annual gaming income has declined by nearly 12 p.c to $758.9 million in 2024. South Tahoe has seen a 30 p.c drop within the final 24 years — $244 million final 12 months.  

Two gaming business veterans with lengthy ties to Northern Nevada stated Reno’s transfer away from gaming ought to insure it towards strain from the California market.

“I don’t think the steady stream of recent and upcoming casino openings in the California market will have much of an impact on Reno resorts,” stated Buddy Frank, a former tv journalist and on line casino business slot machine supervisor and guide. “The real damage was done years ago with Thunder Valley and Cache Creek [45 miles west of Sacramento] cutting off the lucrative Bay Area markets.”

Longtime Reno gaming analyst and CDC Gaming Reports columnist Ken Adams stated tribal on line casino competitors slowed funding and growth into Reno casinos. 

“There isn’t any place in Reno for real investment in casinos, because there’s no return,” Adams stated, including that the profitable efforts to diversify the area’s economic system despatched Reno in one other route.

“It’s been moving that way for 10 years,” Adams stated. “Reno is just a changed community. Gaming is still part of it, but not as large as it used to be.”

Frank and Adams added that enormous tribal on line casino operations in Oregon and Washington have additionally taken enterprise from Reno.

Longtime gaming analyst Carlo Santarelli, now senior vp of company technique for actual property funding belief Gaming and Leisure Partners, predicted that the Reno-Tahoe market will stay secure regardless of the expansion in tribal casinos.

“[Reno-Tahoe] has a healthy set of unique drivers,” stated Santarelli, whose firm owns the actual property related to Baldini’s Sports Casino in Sparks. “I don’t see these Northern California developments having a profound impact on the Northern Nevada markets.”

Another California gold rush

The National Indian Gaming Association divides the 29 tribal on line casino states into eight areas. The Sacramento area, which incorporates all of California and several other smaller tribal casinos in Northern Nevada, produced $12.1 billion in gaming income in fiscal 12 months 2024 — 27.5 p.c of the nationwide $43.9 billion in tribal gaming income for the 2024 fiscal 12 months. 

Other than 2020, when the pandemic pressured the closure of casinos nationwide, the tribal on line casino business has by no means skilled an annual decline.

According to the 1988 Indian Gaming Regulatory Act, tribes are required to make use of gaming income to fund tribal authorities operations, common tribal welfare, financial growth, charitable contributions and different packages. Many U.S. tribes have used gaming funds for well being care, academic packages and job creation. Enrolled tribal members obtain payouts both quarterly or yearly out of the income.

Glenda Nelson, chairwoman of the 1,000-member Estom Yumeka Maidu Enterprise Rancheria tribe north of Sacramento, stated they hoped to entice one other California tribe into partnering on a long-planned on line casino mission.

But after being shunned by different Northern California tribes, a gathering with the Seminole Indian Tribe of Florida’s Hard Rock Entertainment led to an settlement to have Hard Rock handle the hotel-casino and fasten its title to the $440 million mission, which opened in 2019. 

“We found out that we had similar goals and objectives, and it’s been a great relationship,” Nelson stated. “Hard Rock supports our effort to provide jobs and opportunity, not only for our members, but for residents of Yuba County.”

The California-based partnership can also be backing a $1 billion growth mission spanning 350 acres between the resort and the neighboring 18,500-seat Toyota Amphitheater, and the property has house so as to add tons of of rooms, extra assembly house and a on line casino growth.

Mark Birtha, who has been president of Hard Rock Sacramento since its opening and is overseeing the growth, stated growth plans depend upon the “growth of the market,” however that constructing enterprise in California will solely assist the corporate when it opens the Hard Rock Las Vegas in 2027 on the Strip.

“Knowing what Hard Rock builds and what we offer as a hospitality company allows us to leverage the database,” Birtha stated. “Our guests are already asking about Las Vegas. Many of them went when the property was The Mirage.”

The Sky River Casino in Elk Grove is already planning its growth. The property, which opened in August 2022 and is operated by Boyd Gaming, is owned by the Wilton Rancheria Tribe.

General Manager Michael Facenda stated most tribal gaming properties take an analogous strategy to a Las Vegas locals’ on line casino and appeal to a loyal buyer base. 

“We know our customers are looking for the Vegas experience and we feel like we’re offering that right now,” stated Facenda, who has managed tribal casinos in Michigan and Southern California. “Our customers are looking for the easiest way to access fun.”

In anticipation of extra regional competitors, Sky River is engaged on a phased growth so as to add a 1,600-space parking storage, adopted by a 300-room resort, 30,000 sq. toes of assembly house and rising the scale of the on line casino ground.

“Wilton Rancheria has given us a beautiful product to work with in a great location,” Facenda stated.

Boyd Gaming earns a quarterly administration charge from the tribal on line casino that’s based mostly on income. According to quarterly filings, Boyd earned $48.9 million within the first six months of 2025. 

CEO Keith Smith stated the partnership with the tribe has labored nicely. Boyd designed the unique property and growth, whereas Wilton Rancheria funded the prices. 

“They approved it and they’re funding it,” Smith stated. “The tribe hired us because we brought in our experts and our expertise. We know how to do these things.”

Caesars buys into the sport

Caesars has three casinos in Reno — Eldorado, Silver Legacy and Circus Circus — and owns two of the 4 South Tahoe resorts — Harrah’s Lake Tahoe and Caesars Republic (the rebranded Harvey’s Lake Tahoe). 

But the corporate is including a second Northern California on line casino to its tribal portfolio. The firm has an settlement with the Dry Creek Rancheria Band of Pomo Indians to remodel the River Rock Casino into Caesars Republic Sonoma County. The property close to Healdsburg will get a brand new on line casino with 1,000 slot machines in 28 desk video games, a 100-room resort, 4 eating places and different facilities.

The firm additionally opened Harrah’s Northern California in Ione in April 2019. The property is a one-hour drive south of Sacramento and is owned by the Buena Vista Band of Me-Wuk Indians. 

Caesars spokesperson Kate Whiteley stated the corporate presently doesn’t have plans so as to add a resort on the 25,000-square-foot on line casino, which has three eating places and a nightclub.

In an electronic mail, Whiteley wrote that Caesars is dedicated to its Reno and Tahoe resorts. 

“Northern Nevada is where the Caesars Entertainment empire began,” Whiteley wrote, describing the place the corporate’s founder, Bill Harrah, acquired his begin. “We’ve opened new restaurants and renovated rooms in Reno. We think the future is bright in both Northern California and Northern Nevada.”

Caesars has additionally operated Harrah’s Resort Southern California close to San Diego since 2001,  Harrah’s Ak-Chin close to Phoenix for greater than 30 years, and two tribal casinos in North Carolina since 1996. 

Truist Securities gaming analyst Barry Jonas stated Caesars’ tribal administration agreements “are small” however contribute to its income stream.  

“It’s clear that tribes benefit from the Caesars brand and its [player] database,” Jonas stated in an electronic mail. “Caesars gets high-margin fees and expands its model to drive players to its destination properties in Las Vegas.”

New gamers be a part of the desk

The on line casino business’s two main actual property funding trusts have additionally found California’s tribal market.

In April, VICI Properties agreed to mortgage $510 million to the North Fork Mono Rancheria Tribe to underwrite the development of a hotel-casino mission. It is the primary enterprise with a tribe for the corporate, which controls 660 acres on the Strip overlaying 10 resorts and conference complexes.

Red Rock is creating the on line casino and can function the property below a administration settlement. 

“The involvement of a proven operating partner, proven across the gaming landscape broadly, but specifically in tribal gaming and specifically in California, gives us a lot of comfort,” VICI CEO Ed Pitoniak stated on an April convention name.

Gaming and Leisure, which is the owner for M Resort, two Jackpot casinos and the longer term Las Vegas dwelling of the Athletics, has two Northern California tribal offers in place.

The firm in October 2024 introduced it will present a $110 million building mortgage to the Ione Band of Miwok Indians to fund a 60,000-square-foot on line casino in Amador County, 40 miles southeast of Sacramento. 

The on line casino shall be managed by Las Vegas-based Warner Gaming, which operates tribal casinos in Washington and New Mexico and was based in 2008 by former Station Casinos government Bill Warner. The firm managed the previous Hard Rock Hotel & Casino in Las Vegas for 9 years earlier than it transitioned into Virgin Hotels Las Vegas.

Gaming and Leisure can also be offering $225 million to function the lead actual property financing companion and develop into the owner on the Dry Creek Rancheria mission. Gaming and Leisure is Caesars’ landlord for six casinos nationwide, together with the Tropicana Laughlin.

“In both cases, we liked the prospects for the developments, given the respective regional demographics and the operators,” stated Gaming and Leisure’s Santarelli. “These types of partnerships meaningfully expand our reach. These two opportunities are great ways to showcase our willingness to collaborate with tribal operators.”