Gold ‘N Silver Inn owner says Jacobs to run restaurant

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The Gold 'N Silver Inn in Reno will continue to operate despite its former owner's retirement plans.

Jeffry Paine has confirmed he plans to resign after April 30, more than three decades after taking over the restaurant.

“March 15 will be 35 years for me,” Paine said. “I finished.”

Paine first confirmed his plans to retire in an interview with the Reno Gazette Journal in December. At the time, Paine said Jacobs Entertainment exercised its option to take control of the property a year after Jacobs purchased the Gold N' Silver Inn.

Paine also mentioned the transition for the Gold 'N Silver Inn in a Facebook post Thursday evening.

A hearty breakfast has been served for over 60 years at the Gold 'N Silver Inn in Reno.

Jacobs Entertainment purchased the Gold 'N Silver Inn on January 31, 2023via the subsidiary Reno Property Management LLC.

According to Paine, Jacobs Entertainment CEO Jeff Jacobs personally informed him in the fall of the company's plan to take over the property. Both agreed that Paine would stay until April 30, with Jacobs Entertainment taking over on May 1.

Paine, however, was surprised by Jacobs' response when he asked him about the layout of the property.

“(Jacobs) kind of gave me a funny look and said, 'Well, we'll just transition,'” Paine said.

“I said, ‘Transition? And he said, “Yeah, we'll just keep it the way it is.” »

The decision came as a surprise to Paine because Jacobs Entertainment had already demolished several older properties acquired in the West Fourth Street corridor of downtown Reno. Jacobs Entertainment, which transformed the Sands Regency into the J Resort hotel-casino, had acquired properties as part of its Neon Line District project.

Jacobs also said he plans to keep the menu as is and keep employees who want to stay.

“I said, 'Well, wow, you just made my customers really happy and you made me really happy,'” Paine said.

Jacobs Entertainment plans to exercise its option at the end of January, so the agreement is only verbal at this point, Paine said. A spokesperson for Jacobs confirmed he plans to keep things as is for the Gold 'N Silver Inn.

Although leaving the Gold 'N Silver Inn is bittersweet, Paine also added that he's not getting any younger and wants to enjoy his retirement.

“It’s time,” Paine said. “I'm ready.”

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