STATION TAKES CONTROL OF RESERVE

Tuesday, 30 Jan 2001

By DAVE BERNS
lasvegas.com Gaming Wire

   HENDERSON, Nev. - Station Casinos took control of The Reserve at 2 
a.m. today, completing the company's $70 million purchase of the 
jungle-themed locals casino from Ameristar Casinos.
   The 3-year-old property was shut until 2 p.m., so The Reserve's 
gaming chips and cash holdings could be audited.
   Station Casinos agreed in October to buy The Reserve at the same 
time Ameristar purchased Station Casinos' two Missouri riverboats for 
$475 million.
   The Reserve has struggled financially from a relatively isolated 
location near the junction of U.S. Highway 95 and the Las Vegas 
Beltway. Station Casinos' nearby Sunset Station has also hurt the 
property.
   The new owners have proposed additions to The Reserve that would 
include a 10,000-square-foot restaurant, a 41,500-square-foot casino, 
a parking garage and a food court with five or six fast-food outlets.
   Station Casinos executives have said they don't plan to put the 
Station brand on the property, but plan to re-theme it with another 
name.
   Station Casinos shares were down 41 cents Tuesday to close at 
$13.21. Shares of Ameristar were up 13 cents to $6.13.
 

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