Commission licenses new Henderson hotel-casino

Tuesday, Nov. 20, 2001 | 10:52 a.m.

The Nevada Gaming Commission gave its unanimous approval to the $300 million Green Valley Ranch Station Casino Monday, clearing the way for the property to open in Henderson Dec. 18.

Located on Green Valley Parkway at the Beltway, the 201-room hotel-casino will be Station Casinos Inc.'s eighth major casino in the Las Vegas Valley, and arguably its most upscale. Station owns 50 percent of the property and will be its manager; the Greenspun family of Las Vegas, the owner of the Las Vegas Sun, owns the other half.

The commission granted a gaming license to the property with little debate. But the issue of market concentration was raised, as it was when Station acquired the Santa Fe, Fiesta and Reserve last year.

Station now accounts for about 7 percent of Nevada's gross gaming revenues, and nearly 9 percent of Clark County's. Once Green Valley Ranch opens, Station expects its Nevada share to rise by less than 1 percent, and its Clark County share to rise by 2 percent.

Commissioner Augie Gurrola said this wasn't enough to prompt him to oppose the new casino under Nevada's anti-monopoly gaming regulations. But he again voiced his desire to see the regulations refined.

Currently, the regulation lists several dozen factors that can be used to determine market share, such as hotel rooms, gaming revenues and slot machines, but provides no guidance on what constitutes excessive market share.

"We need a good standard as to what constitutes a monopoly," Gurrola said. "We have to define what causes a problem."

Gurrola said he hopes the commission and the state Gaming Control Board can tackle the issue of refining the anti-monopoly regulations in spring 2002.

As far as the property goes, "I think it's a magnificent edifice," Gurrola said. "And it's an ideal location."