Singer Frank Sinatra and his group of friends were considered the coolest individuals on the planet back in the 1950’s and 1960’s. The Cal Neva Lodge was one of the favorite hangouts of the group back then and Sinatra even owned the facilities for a short period of time,
On April 1st, 2010, the Tahoe resort shutdown its doors. The difficult economic condition combined with increased gaming competition forced the facility to close its doors.
While it is surprising that a resort, once a popular destination among Hollywood stars, is closing down, some people are not surprised.
The Director of the Institute for the Study of Gambling and Commercial Gaming at the University of Reno, Nevada, William Eadington said that the realities are when you have that type of revenue drop the weakest gaming operators usually get kicked out. He added that the older casinos and Cal Neva Lodge is a good example; do not have a lot to offer for gaming.
Back when the Cal Neva Lodge was one of the coolest locations on the planet, a lot of the casino facilities in Nevada were owned privately. The private gaming facilities gave way to big corporations and the state of Nevada was changed into a spectacular gambling location. Older casino establishments have had a difficult time competing with new resorts that have been constructed in the state.
Aside from that, casino gaming expansion around the United States has increased in the past twenty years. Almost every state now offers some form of casino gaming, removing the need for players to travel to Las Vegas when they want to play casino table games or slot machines.