|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
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
gaming chips and cash holdings could be audited.
Station Casinos agreed in October to buy The Reserve at
time Ameristar purchased Station Casinos' two Missouri riverboats for
The Reserve has struggled financially from a relatively
location near the junction of U.S. Highway 95 and the Las Vegas
Beltway. Station Casinos' nearby Sunset Station has also hurt the
The new owners have proposed additions to The Reserve
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
Station brand on the property, but plan to re-theme it with another
Station Casinos shares were down 41 cents Tuesday to close
$13.21. Shares of Ameristar were up 13 cents to $6.13.
Phone: (702) 383-0478
Fax: (702) 380-4590