SACRAMENTO — A new wave of tribal casino development is sweeping across Northern California, as major Las Vegas operators including Red Rock Resorts, Boyd Gaming, and Caesars Entertainment partner with area tribes to build large-scale casino resorts. The expansion is raising questions about whether California’s growing tribal market could siphon more business from Northern Nevada’s established gaming hubs of Reno and Lake Tahoe.
Red Rock, which previously operated Thunder Valley Casino near Sacramento and the Graton Resort & Casino in Santa Rosa, is back with construction underway on a new tribal casino in Madera, located 30 miles north of Fresno. Boyd Gaming already operates Sky River Casino in Elk Grove, while Caesars has a tribal property in Ione and is developing another in Sonoma County.
Tribal casinos double down on stadium investments and sports betting
Industry observers recall that the first wave of California tribal casinos in the early 2000s hit Northern Nevada hard. Since 2000, Reno’s annual gaming revenue has fallen nearly 12 percent to $758.9 million in 2024, while South Lake Tahoe has seen a 30 percent decline over the same period. However, analysts argue that the worst of the damage is in the past. Reno has diversified its economy and moved away from reliance on gaming, with growth in technology, logistics, and housing.
Unnormal pact between two Oklahoma tribes and the state
“Thunder Valley and Cache Creek already cut off the lucrative Bay Area market years ago,” said longtime consultant Buddy Frank. “I don’t think the steady stream of new California openings will have much of an impact on Reno resorts.”
Still, tribal casinos are expanding aggressively. The Hard Rock Hotel & Casino Sacramento, opened in 2019, is already planning a $1 billion expansion, while Sky River Casino is adding a hotel, convention space, and expanded gaming floor. Caesars, meanwhile, is transforming River Rock Casino into Caesars Republic Sonoma County, with 1,000 slots, 28 table games, and a 100-room hotel.
The trend is also attracting major real estate investment trusts. VICI Properties is financing $510 million for the North Fork Mono Rancheria Tribe’s casino project, while Gaming and Leisure Properties is backing projects in Amador County and Sonoma County. Analysts note that these partnerships provide tribes with capital and expertise while giving investors access to one of the fastest-growing gaming markets in the U.S.
With California tribal casinos generating $12.1 billion in revenue in 2024, or 27.5% of nationwide tribal gaming, the expansion marks a second “gold rush” for the state. For Reno and Tahoe, the impact may be muted, but the competitive landscape across the West is being redrawn.
