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August 1, 2022 Casino, Land Based

Silverton Resort closes to begin work on $45m renovations

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For at least five months the hotel and pool will be shut down.

After being delayed by the pandemic, the Silverton Resort will now close its facilities and begin work on the $45m renovation. The 300-room hotel and the pool attached to the resort will be closed for at least five months.

With construction beginning on Monday, the resort’s casino, aquarium, restaurants and shops will remain open. The project is expected to be finished in early 2023.

Casino President Robert Kunkle commented: "It’s going to be an entirely new hotel and pool experience. We’re going to be a substantially improved product."

According to the Silverton Resort, the rooms will have a western theme with rustic and modern touches. 

The renovation was first put on hold by the pandemic in 2020. The resort had plans for a major remodel prior to the pandemic but the group believes it's now ready to begin the renovations. 

Silverton CEO Craig Cavileer added: "It’s been a nice recovery for all of us in Las Vegas. We’re ready now. Rather than do it in phases or chunks of rooms, we decided to do it all at once."

The property’s EBITDA margins have been hovering around 40% since reopening after a state-ordered shutdown in 2020.

Cavileer continued: "We’ve had a good operating margin, good return and good customer spend. It’s been really good for us."

The casino is also marking its 25th anniversary after being opened in 1997. Located off Interstate 15 at Blue Diamond Road, Silverton will soon have an NBA-ready arena situated near it.

The arena project is backed by California investment firm Oak View Group and is led by former Las Vegas Raiders President Marc Badain.

In regard to the arena project, Cavileer stated: "Certainly, if that project near us comes to fruition, it would be amazing."

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