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Oct. 09, 2008
Copyright © Las Vegas Review-Journal

Gaming board confident Aliante can survive times

By ARNOLD M. KNIGHTLY
REVIEW-JOURNAL

The economic downturn will make marketing Station Casinos' newest casino difficult but it has helped the company recruit some great workers, company officials said Wednesday when the Gaming Control Board voted unanimously to recommend licensing of the $662 million Aliante Station.

Casino management expects "tough sledding" when the North Las Vegas property opens because of the downturn.

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    • But, the economy has provided "vibrant activity" for applications since the hiring process began July 6, said Joe Hasson, general manager of what will be Station Casinos' 18th local property.

    "We've had approximately 1,000 applicants a week since mid-July through our doors," said Hasson. "It has given us a great pool to choose from."

    The Nevada Gaming Commission will consider the matter Oct. 23 in Carson City. The 202-room hotel-casino is scheduled to open Nov. 11.

    Station Casinos will have approximately 1,000 employees working at Aliante Station with 400 others working for various businesses inside the property, including restaurants, movie theaters and other amenities.

    Hasson, who was general manager of Green Valley Ranch Resort from 2003 to 2007, told regulators that 400 employees have already started working and the rest will begin in the five weeks leading up to the opening.

    Nearly 20 percent of the workers are transfers from other Station Casino properties.

    Control board member Randall Sayre expressed confidence that Station Casinos will be able to succeed with the new property despite the troubled economy.

    "It's refreshing to see people do what they do well have the courage to move forward in these difficult times," Sayre said.

    The casino will be the largest in North Las Vegas with 2,550 slots, ranging from penny machines to $25 slots, 40 table games and a 12-table poker room.

    Hasson said that while he expects the new property will initially cannibalize customers from the company's other properties in North Las Vegas -- Texas Station and Fiesta Rancho -- he believes Aliante Station will build a bigger business base for the company.

    Aliante Station, on the corner of the Las Vegas Beltway and Aliante Parkway, will be marketed to a combination of Station Casinos' current customer base, 6,500 households in the Aliante master plan, destination travelers and events at the Las Vegas Motor Speedway nine miles northeast, Hasson said.

    "We already have bookings from groups looking to take advantage of the proximity of our hotel to the speedway," said Hasson. He said the car aficionado group Mustangs Across America has completely booked the hotel for April.

    Hasson said the surrounding population numbers are similar to what was seen when Green Valley Ranch opened in December 2001. However, the median income is closer to the households surrounding Santa Fe Station.

    Funding for the project, a 50-50 joint venture between Station Casinos and the Greenspun Corp., includes a $391 million term loan, which matures in October 2012, and $260 million in partner equity.

    Nearly $293 million of the debt is fixed at 7.5 percent, Station Casinos Chief Financial Officer Thomas Friel said.

    Greenspun contributed the 40-acre parcel valued at $50 million, which anchors its Aliante master plan community.

    The project is the fifth partnership between Station Casinos and the Greenspun Corp.

    The partnership began in 1995 with Barley's in Henderson, and now includes Greens Supper Club, Wildfire Casino and Lanes and Green Valley Ranch Resort.

    Contact reporter Arnold M. Knightly at aknightly@reviewjournal.com or 702-477-3893.



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    tw wrote on October 09, 2008 04:03 PM: Mr Hasson of Stations must be a graduate of the Marie Antoinette School of Economics


    J Dubs wrote on October 09, 2008 03:41 PM: Quote from Article:

    "We've had approximately 1,000 applicants a week since mid-July through our doors," said Hasson. "It has given us a great pool to choose from."

    Mr. Hasson, I guess you don't realize how many people are actually looking for work in these tough times. I dunno how you sleep at night saying that, one day you will feel this and see things from the opposite perspective.


    mauna loa wrote on October 09, 2008 01:27 PM: station casinos forgot about their base. Like Mccain for about his. I know you seen the market today. -678 hello. Don't get me wrong, I hate Obama. However, the only way he doesn't win Isreal would have to attack Iran. FORGET it Veags your toast. Economy is OVER. Your purchased your home as if you were in the roaring 20s. Obama is a socialist as Karl Marx. We are headed for some Tough times. Por Favor, the only good thing is those Illegal mexicans will self deport.


    al wrote on October 09, 2008 12:24 PM: Stripping down in front of management to get a job in Las Vegas. I would hate to see whos in front you when you die.


    Ken wrote on October 09, 2008 12:01 PM: I just hope Hasson hires some better managers then he had at GVR. The collection of dunces he had over there were embarassing.


    maggie wrote on October 09, 2008 11:11 AM: Fiesta Ranco has already been cannibalized by Stations they drove the locals away of all the local casinos Stations doesn't give one hoot about locals greedy greedy greeday and they keep building


    tw wrote on October 09, 2008 10:34 AM: Just a matter of time before Stations and Greenspun file for bankruptcy anyway


    al wrote on October 09, 2008 10:27 AM: Didnt you all strip down to bikinis and have to dance to grease lightning. Cheetahs and O.G. will have better clientels.


    Rotten wrote on October 09, 2008 09:29 AM: The Aliente Mortuary.
    I'm dying to see the place.

    I sure hope the Gaming Commission gives them a license.

    What are the odds?


    2zero wrote on October 09, 2008 08:27 AM: Dear Grandma,

    I just graduated from High School and you have told me for years you would help me go to College. Please send money.

    Dad says you are having money problems because you spend all day in Station Casino's? Are you ok?

    Love, Your daughter.


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