Jeane Mulreany calls it her baby " the 152-room hotel/casino in Minden that locals simply know as "CVI."
For the last 25 years, since it opened in 1984, she and her husband Patrick have nurtured the Carson Valley Inn like devoted parents, watching it grow into one of the pillars of the community.
But Mulreany, like all mothers, knows there comes a time to say good-bye.
"It's bittersweet," she said on Friday. "It's a very difficult decision to make after all this time. I've seen so many people get married and have babies, and I've seen those babies grow up. We are a family. Our employees care a lot about each other."
On Friday, the Mulreanys announced that they'd entered a purchase agreement with the owners of Bodines Casino in Carson City. Mulreany wouldn't specify the terms and conditions of the agreement, but said another six months is needed for due diligence and licensing approval before the transaction is complete.
"The employees are sad, but they're happy for me," she said. "We still have six months together, and we'll be going full speed ahead till the ink is dry. I'm not looking forward to that day, but I'll be walking toward something else for myself, and I'll be able to watch this place from afar, to see it evolve and change just as other people watched us evolve and change."
Mulreany said the time was right to sell.
"There comes a time when opportunity presents itself," she said. "My children have grown, and I am looking forward to a simpler life."
The Mulreanys, who live in Smith Valley, have four children in their 20s, three in Reno, and one in the Bay area.
"I'd like to get to where I can travel and not worry from day-to-day," Mulreany said. "My children can't remember a time when I've not had this business."
She said the economy also affected the family's decision.
"Gaming has changed a lot over the last 25 years," she said. "Nowadays, in this business, few small casinos are making it. Everything lined up for this to happen. We had to strike while the iron was hot."
But there was more to it than economics, Mulreany said.
"It had to be the right person," she said. "We've had offers off and on over the years, but we felt we really needed a good fit for the business, for our customers, for our employees and for the Valley."
If everything goes according to plan, ownership of the Carson Valley Inn will be transferred within a year to Washoe Valley resident Mike Pegram, the Carano family, which owns the Eldorado Hotel Casino, Silver Legacy Resort Casino and Tamarack Junction Casino in Reno, and Rick Murdock, a Carson City native and current vice president of sales for Eldorado.
The three parties own Bodines Casino in south Carson City, which opened in May 2008.
On Friday, Pegram said he and his partners were not planning any major changes in the hotel's 450-person workforce. The casino is one of the largest private employers in town.
"We're going to come in and evaluate," he said. "There may be some new slot products and a new facelift from the casino floor, but we want to talk to the employees and the consumers, because they know the market better than we do."
Like Mulreany, Pegram said the gaming industry has changed over the years.
"Times have changed and there will be some freshening of the facility," he said. "Bodines raised the bar a little bit, but as far as major changes, we expect to provide the same level of service."
Pegram said he understands how important the Carson Valley Inn is to the greater Carson Valley community.
"We're coming in with what we understand as the tradition of the Carson Valley Inn," he said. "The Mulreanys have left us a great tradition and great employees. We'll still go in and evaluate what we need to do, but we hope to continue the same tradition. We want to be on the cutting edge, and run the best small-town casino in Northern Nevada."
The sale includes all of Carson Valley Inn's properties, including its 75-room motor lodge, 59 RV sites, three dining establishments and Shell convenience store.
"The community has been wonderful," said Mulreany. "We couldn't have been successful without that support over the last 25 years."
