Reserve hotel-casino sale gains final approval

Thursday, Jan. 25, 2001 | 11:16 a.m.

The Nevada Gaming Commission today approved the $70 million sale of the Reserve hotel-casino in Henderson by Ameristar Casinos Inc. to Station Casinos Inc.

After a 30-minute hearing in Las Vegas, the vote was unanimous. Station officials said they plan to take over the property Tuesday.

Despite the approval, gaming commissioners said they will review whether to amend market concentration rules in the future.

Station, already the dominant locals' gambling company, is expanding dramatically with its purchase of the Santa Fe, Fiesta and Reserve casinos and has more properties in the development pipeline.

Station officials today argued locals still have a wide variety of gaming choices to choose from, an argument that was accepted by commissioners.

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