The plans call for putting a pool and deck atop the casino building, replacing 50 rooms with spa, fitness and meeting facilities, and upgrading the remaining 684 rooms. A pedestrian bridge linking hotel towers across Third Street will also be renovated.
A renovated hotel downtown would be very successful in my opinion. There are probably lots of people (myself included) who would like to stay downtown, but don’t want to stay in an ancient hotel room. Golden Nugget has new rooms in their Rush Tower but they might a little overpriced. If Lady Luck opens with nice new rooms, with a new casino they could do very well.
Adding a pool will also be a great asset. I'm not 100% sure, but I don't think many hotels downtown have pools (I know Golden Nugget has a nice one), so a great resort style pool downtown would be a huge draw.
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Source: AP via Reno Gazette-Journal.