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November 24, 2009

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Northern Nevada casinos sold

Monday, Sept. 16, 2002 | 11:12 a.m.

WENDOVER -- Isle of Capri Casinos Inc. of Biloxi, Miss., said today it agreed to buy the bankrupt State Line and Silver Smith hotel-casinos in Wendover, a Northern Nevada town on Interstate 80 at the Utah border.

Isle is paying $30 million for the properties, subject to bankruptcy court approval.

Isle operates 14 riverboat, dockside and land-based casinos at 13 locations. It plans to sell its Lady Luck hotel-casino in downtown Las Vegas.

The State Line and Silver Smith properties cater to the big Salt Lake City market.

A deal collapsed last week in which Peppermill Casinos Inc. of Reno would have purchased the two Wendover properties for $49.6 million. The Federal Trade Commission was scrutinizing that deal, since Peppermill would have owned four of the six casinos in Wendover.

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