The Debbie Reynolds Hotel & Casino opened in 1993, at the former location of The Paddle Wheel Hotel & Casino. When it opened Debbie Reynolds owned the hotel but the casino operations were operated by a third party.
The casino struggled financially from the start, mainly due to mismanagement by the casino management. The small size of the casino also prevented the hotel from making any profit from the gaming revenue. By 1996 the company contracted to run the casino operations shut down the casino, citing poor revenue and continued losses, leaving only the hotel operating in the location. Debbie Reynolds attempted to obtain a gaming license to operate all casino functions "in-house" but was unable to obtain one due to poor finances and lack of secure credit. This ultimately doomed the hotel also and by 1997 both Debbie Reynolds and the hotel filed for bankruptcy protection.
In 1998 the hotel was sold at auction for $10.65 million and Debbie Reynolds' short-lived Debbie Reynolds Hotel & Casino/Hollywood Movie Museum had come to a close.