A NEW PROPERTY FOR STATION CASINOS - A GOOD OMEN IN A DOWN ECONOMY

Implications: This property construction was started prior to the drop off in business. It's not the best scenario for an opening, however, it should stimulate some new business for this company. It's in a rather new residential area and should help the community it serves very well.

Analysis: I have visited Station Casinos several times over the past few months. I feel that their standing in both the Las Vegas community and the local casino industry deserves some additional comments. The soon to be opened Aliante Stations Casino is another joint venture with the Greenspun family. The Greenspun's are also partnered in the Green Valley Ranch on the complete other side of town. To date a seemingly good marriage. They are also the owners of the Las Vegas Sun newspaper that comes attached the Review Journal, Las Vegas's main paper.

It would seem to the casual observer that the opening, in a couple of months, is a bit premature. Having a rather down economic view of this area over the past year it would seem there would be better times to open. The truth of the matter is, every day that Aliante Station is closed is a day that revenues are going out and no dollars are coming in. Just as a side note, the new East Side Cannery will be opening this week on the Boulder Hwy gaming corridor. It should do a good job and bolster both Sam's Town and Boulder Station casinos just down the street. The original Cannery hotel is located in North Las Vegas and will be in direct competition with Aliante Station. They are separated by about three miles, but still a factor. The competition will certainly keep both properties on their respective toes.

Aliante Station should make a solid impact on the community. They are bringing many new restaurants, entertainment, movie theaters and gaming to an area that needs new business. There are plenty of home surrounding this new project and no doubt they will support a new hotel/casino in their back yard. Stations has a habit of picking the right area to place their new properties. The next on their list will be Durango Station Casino. We wait with great anticipation the opening of both new casinos..............