By Ray Hagar, Reno Gazette-Journal

With the stroke of midnight Monday, the transaction for the new ownership of the Carson Valley Inn was finalized. The new ownership team of noted thoroughbred owner Mike Pegram and the Carano family wasted little time to begin renovations on the 25-year old property.

“At 12:01 last night, the Carano family and I became the proud owners of the Carson Valley Inn,” Pegram said. “We started right away moving out 260 old slot machines and putting in 200 new ones.”

A $10 million renovation for the property is planned, Pegram said. The complete makeover will be done in three phases and should be completed within a year.

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