LAS VEGAS WILL SOON BE WELCOMING ANOTHER NEW PROPERTY FROM STATION CASINOS

Implications: The Aliante Station will make a decided difference for this area in North Las Vegas. They are a very strong company managed by knowledgeable people. There is high expectations are that this new property will be one of their best.

Analysis: To say that the timing for this opening is a bit premature might have some people wondering if the business downturn will hurt an otherwise terrific property. I think that most will agree that management did not contemplate this type of recession to fall in line with their grand opening. Having made that statement, it's my view that even though there is a short fall in business, it has not affected the local trade as much as the the tourist business that generally stays on or near the strip. Having spoken with some local executives recently regarding this period of downturn, they all seem push the same message. The head count has remained pretty constant - they noticed that the guest stay is shorter and the total sum of dollars played at any one visit is smaller. There were no exact figures given, but the feel was that they were off enough to institute more customer incentives to keep their numbers at a respectable level. I have seen more advertising, food and beverage given away and a general boost in the REWARD SYSTEM. It's part of doing business - it's costing a little more to keep the customer coming in their properties.

The partnering with the Greenspun family is not a new procedure for Station Casinos. They have the same type of relationship in their Green Valley Ranch location. It has, from our information, been a successful marriage. It's not hard to see another property coming along with the same people involved. All in all, Aliante Station should be a great success. I can't see anything at this point getting in the way of making a big hit with the local trade. I don't foresee much in the tourist end for this property for a while and with a short number of rooms, they probably anticipate the same. They will, however,  be a good source of rooms for the time there are some big events at the Speedway. This property is just a very short drive from there. I look for terrific things for Aliante Station and am looking forward to their opening in November of this year..................