Las Vegas Fitzgeralds Casino

The Fitzgerald's Reno is the last of 4 properties owned by Fitzgeralds Gaming Corp to be sold after the company filed for Chapter 11 bankruptcy protection in 2000. Prior to this, sister properties were located in Las Vegas, Tunica, Mississippi, and Black Hawk, Colorado.

In 2005 Monarch Resort Casinos attempted to acquire Fitzgerald's from bankruptcy. In April 2007, L3 development, a development firm based out of Chicago, Il, announced its intention to purchase the property and convert it into a boutique hotel.

On November 1, 2007, ownership of the Fitzgeralds officially transferred to a joint partnership between L3 Development and RAC II LLC, marking the first time in decades that the property was under private ownership. The sole proprietor of RAC II LLC is Robert A. Cashell, Jr., son of Reno mayor Bob Cashell. Robert Cashell is also a partner in Cashell Enterprises, which operates several casinos in the Northern Nevada area.

As of November 2007, demolition of the so-called "Rainbow Bridge" over the ReTRAC trench is complete. In addition to the Fitzgeralds, L3 is also developing the Montage mixed-used project (formerly the Golden Phoenix Hotel and Casino), and the train trench plaza alongside both Fitzgeralds and the Montage.