A Forum For Activist Investors in Bar-K Funds (RE Loans/Mortgage Fund '08/RE Reno)
Here's an excerpt from a recent visitor to the Siena:I made the pilgrimage to the Siena to see the wall. It is 6’ tall. 5-9” is the tallest allowed by code without a permit. The wall only encloses two thirds of the old slot floor, and all the slots have been moved into this bullpen. They didn’t enclose the southern third of the floor (left hand side of the RGJ picture), and literally covered the floor monuments with milk cartons and leaned a couple stools on them. This gives better access to the one bar that remains open (far left) and to the sports book (top left corner), but it is NOT what you would do if you were really building the wall to allow construction behind it – you would enclose as much as possible. And for the record, casinos remodel and swap out slots all the time without going through these heroics. Chalk it up to one more lie (or 2, if you count all the “Pardon Our Dust” signs posted).
I was in the Siena this afternoon (Tuesday) and can confirm most of the report above. The only odd thing is that there is a bank of 24 slots still on the floor. They would be in the foreground in the picture, off screen to the left. I think this area was used for those mind blowing $500 slot tournaments for Siena's "high roller" clientèle. But the slots still being in this sort of out of the way location could be an indication that a casino floor renovation really is anticipated.The main casino bar is off to the left in the picture. It was in the process of being closed up. The bar directly below where the picture was taken has been closed for quite some time, and it was being restocked to replace the main bar. Again, could be a sign of impending construction if the main bar is going to eliminated or changed. The reopened location is much more convenient to the hotel guests.