In a city known for glittering casinos and high-stakes gambles, it would be difficult to find another private residence that embodies the Reno, NV, spirit quite like the iconic Pennington Estate.
Perched on a high plateau overlooking the sparkling lights of the “Biggest Little City in the World,” this 19,347-square-foot mansion has returned to the market with a price tag of $13.95 million, offering potential buyers the rare opportunity to own one of the area’s most iconic trophy estates.
The resort-like residence was built in 2004 by casino industry pioneer William Norman Pennington—who played a major role in establishing Las Vegas Strip classics like Circus Circus, the Excalibur, Luxor, and Mandalay Bay.
Pennington wasn’t just another casino executive; he was a Forbes 400 luminary who helped shape the modern Las Vegas skyline. When he commissioned this estate in the early 2000s, he spared no expense, using globally sourced materials including Brazilian hardwoods, Italian marbles, and custom millwork, handcrafted by international experts.
The mansion has changed hands only twice since Pennington’s death in 2011.
“The Pennington Mansion was last purchased by my client in 2023, when it was the largest and most expensive single-family home ever sold in Reno’s history,” says listing agent Samantha Sequella of Re/Max Professionals-Reno.
In addition to its lavish interiors, what sets the Pennington Estate apart from other luxury homes in the area is its extraordinary land holding—it sprawls across 14 manicured acres, right at the edge of town and not up in the mountains or on Lake Tahoe, as is the case with many of the upscale estates in the area.
“This property is particularly unusual for this location,” Sequella notes. “I would say the average home in this neighborhood ranges from $1 million to $2 million. The Pennington is tucked away behind a stately gated entry—you would never know there is a house this massive sitting behind the gates in this neighborhood. When you drive by, you would never know it was there!”
An interesting historical footnote: The estate was once even larger.
“This property used to be over 20 acres,” Sequella reveals. “The previous owner subdivided and developed an enclave of 16 high-end single-family homes. There used to be a helipad located right where the enclave was built.”
Visitors get a feel for the Old World opulence the minute they step through the front door into the mansion’s signature feature—a soaring rotunda entry with Venetian plaster ceilings. Two story windows flood the space with natural light.
The rotunda flows into the great room, which features a massive statement fireplace (one of nine on the property), and floor-to-ceiling windows frame what some consider the finest city views in all of Reno.
“The most fabulous asset of this property would have to be those city views, size of the property, and acreage,” Sequella says.
The furnishings are also fabulous assets—many are custom made to fit the singular decor. Potential buyers may be relieved to know that they are included in the sale.
“The home comes furnished, but some personal effects will not be included,” says Sequella. We will include a bill of sale for furnishings outside the purchase contract. The price of everything is always negotiable.”
The estate officially counts four bedrooms and 6.5 bathrooms, but those numbers are deceiving as the rooms are huge and there’s infinite potential for rearrangement.
The palatial primary suite sits on the east-wing main level, and features a sitting area, lavish bathroom, a one-of-a-kind custom onyx fireplace, and a private veranda overlooking the grounds. The walk-in closet is bedroom sized, and there’s a convenient adjoining laundry area.
The property also includes a professional-grade home theater with snack bar, a craft room, a wine cellar and billiards room, plus a full gymnasium with an attached salon.
For art aficionados and collectors, there are generous wall spaces and a dedicated display room.
The outside spaces are equally impressive, designed to mix grand European garden elements with the natural beauty of the Nevada high desert. Classical statues punctuate the manicured lawns, while a grand fountain serves as a stunning focal point visible from multiple vantage points throughout the property.
For recreation and entertaining, the resort-style pool and spa complex features an integrated kitchen and another monumental fireplace and an expansive terrace, also with city views.
In addition to the primary living areas, there’s an additional 7,000 square feet of additional utility and storage space integrated into the daylight basement, and garage space totaling 2,600 square feet, with parking for eight vehicles. There’s also expansive motor-court parking for dozens more.
You might think the utility bills to run the place would be exorbitant, but they’re mitigated by solar panels dedicated to the pool system. A backup generator keeps things running during the occasional severe weather events.
The current owners understood all these advantages. “They are self-made, builder-developers of their own accord,” Sequella says. “They have unique properties in several locations and decided to purchase in Reno for its close proximity to California and for Nevada’s palatable taxes, comparatively.”
They also enjoyed its unique location, just 10 minutes from the Reno-Tahoe airport. It’s also only a few minutes from downtown Reno’s vibrant entertainment and dining scene, and less than an hour to Lake Tahoe.
So why are they parting with it?
“They would like to downsize,” Sequella explains. “Yes, they are used to large estates, but it is time to think about that next chapter of their life. They would love to stay in this location, but about half the size will do.”
