Billionaire Alex Meruelo's $1 Billion Reno Arena Project Advances Toward 2028 Opening

Construction is advancing on a 10,000-seat arena at the Grand Sierra Resort in Reno, a key part of billionaire Alex Meruelo's $1 billion multi-phase expansion plan for the property.

"There’s a great deal of progress being made, a great deal of work happening and the garage has just begun," said Chris Abraham, GSR’s chief marketing officer.

"The arena, we’re out of the ground, we have walls, we have foundations, all the underground work is basically done, so now it’s the fun time when we can actually start building up and everyone gets to see."

Original cost estimates for the arena were about $350-$375 million, but Abraham said that range is "probably more like $450-$500 (million) right now", as Meruelo is "sparing no expense" for the venue.

"For a 10,000-seat-plus arena, it’s going to be the very best one of those, maybe in the world," Abraham said.

The arena is tentatively slated to open in 2028 and will host University of Nevada men’s basketball games as well as other sports and entertainment events.

The partnership with the university was brokered between Meruelo and school President Brian Sandoval, a former Nevada governor.

University Athletic Director Stephanie Rempe said the new arena will serve as a recruiting tool, but noted that in the name, image and likeness environment, the school has to invest in good players first.

"We’re investing in our basketball programme because everybody wants them to be successful now, and also it’s important to the Meruelos, of course, when we go into that venue that we’re winning and attracting people and people are buying tickets and it’s a great experience," Rempe said.

Hockey and Operational Plans

The arena will also host professional hockey, though the specific team and timeline are not finalized.

Meruelo previously owned the NHL’s Arizona Coyotes and retains ownership of its AHL affiliate, the Tucson Roadrunners, whose lease extends through the 2027-28 season.

"We expect to have hockey as part of the future of the arena, it’s just a determination right now of what kind of hockey and how does that look," Abraham said.

"So that hasn’t been determined yet. We’re probably another six months or so from really getting into the details of that. But I know Mr Meruelo is looking at a few options and will make a decision soon."

The GSR team is drawing design inspiration from state-of-the-art arenas like the Intuit Dome in California and the Moody Center at the University of Texas.

Rempe acknowledged the unique arrangement of a college team playing at an off-campus facility owned by a private person, especially at a casino.

She said the university is conscious of the proximity to sports betting, which is legal on in-state colleges in Nevada.

"You’re always concerned about it, and you need to make sure you put things in place and educate your student athletes, which we do a lot, so they understand the gaming piece," Rempe said.

Abraham said hosting Nevada athletics is "really nothing different than what we’ve been doing all along", but his team will do whatever the university requests to "make sure we’re providing a really welcoming environment to everybody".

The project comes as Reno's gaming revenue finished the most recent fiscal year in July at $825 million, a 7% increase year-over-year.