PT Mining sold, may be expanded

Monday, Oct. 28, 2002 | 11:31 a.m.

Holder Hospitality Group LLC of Sparks said Friday it agreed to purchase all the assets of a Boulder Highway casino in Henderson.

The casino, known as PT Mining Co., will adopt another, as-yet undetermined name following the transaction.

The deal, subject to regulatory approvals, marks Holder Hospitality's first project in Southern Nevada.

The company aims to increase the number of slot machines at the property from the current 170 or so machines to 400 units. It also has an option on an adjacent parcel to expand the property.

Terms of the deal weren't disclosed. The deal is expected to close in early 2003.

Local businessmen Phil and Tom Boeckle had owned the casino, along with nearly two dozen PT's chain of pubs, with Revenue Properties Co. Ltd. of Toronto. Revenue exited the Nevada gambling business this year when it sold the pubs to Golden Gaming Inc., which is controlled by former Station Casinos Inc. executive Blake Sartini.

In August, Revenue announced an agreement to sell its interest in PT Mining Co. to the Boeckles for $3 million (Canadian).

Sparks-based Holder Hospitality owns the Silver Club Hotel Casino in Reno-Sparks, the El Capitan Casino Resort in Hawthorne, Sharkey's Casino in Gardnerville, the Sundance Casino in Winnemucca, the Model "T" Resort in Winnemucca and a statewide slot route license. The company also is buying the Fernley Truck in and Casino in Fernley.

Holder is interested in buying other properties in Southern Nevada but doesn't currently have any others under consideration, company President Bruce Dewing said.