But now, the Silver Legacy, which is co-owned by the Eldorado and Circus Circus casinos, is fighting to avoid defaulting on a $142.8 million bond.

The casino announced last week that it had finally worked out a tentative agreement to restructure its debt with its bondholders. The deal, which must be completed by April 30, is further evidence of Reno’s struggling gaming market.

Reno casinos‘ combined gambling revenue fell 9 almost percent in January from last year. Business at Las Vegas Strip casinos, however, was up 29 percent from last year. This shows that Reno’s troubles are due to factors other than just a weak economy.

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