Las Vegas Sun

July 30, 2014

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New owners approved for Aliante casino

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Justin M. Bowen

Aliante Station

CARSON CITY — The 880 employees will stay at the once-bankrupt Aliante Station Casino in North Las Vegas when the new owners take over.

And Station Casinos will continue to manage the property.

The Nevada Gaming Commission approved the deal of nine banks and three private equity companies becoming the new owners. They loaned more than $400 million for the construction and start of the hotel-casino.

Commission Chairman Peter Bernhard said there “is a reasonable probability that this property will be successful,” in the future. But other commissioners wished them luck and said they might need it.

The new owners are taking over the equity held by Station Casinos and the Greenspun family, owners of the Las Vegas Sun.

Each of the banks will hold less than 10 percent, said Dan Reaser, a lawyer who made the presentation to the commission. The equity companies are Apollo Management, Texas Pacific Group and Standard General who will hold a total of 60 percent of the business.

The trade creditors are 100 percent paid off, said Reaser.

This is Standard General’s first venture into Nevada gaming. Apollo and Texas Pacific already own Caesar’s Entertainment and Harrah’s.

There will be a management team consisting of James Coulter, Eugene I. Davis, Soohyung Kim and Ellis Landau to oversee the property. The major decisions at the Aliante will be left to them.

Reaser said the new company Alst Casino Holdco. should have approval by the end of November of its registration business with the Securities and Exchange Commission.

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  1. Those of us who live close to Aliante Station are hoping for the best. This is a beautiful hotel and casino with wonderful employees who are both friendly and helpful.
    There are a few lessons left to learn, however. The high limit room has been neglected since opening day, most recently with a drastic reduction in video poker paytables.
    The food quality and selection at the buffet dramatically declined with the recent drop in prices. We'd rather pay a little more and get the food quality found at other Station properties.
    Finally, the huge sound systems blasting music at outside pool events must go. We could hear the recent "Inked" Sundays through the walls of our well-built Pulte home almost a mile away! Surrounding property owners are entitled to the quiet enjoyment of their homes.
    We love Aliante Station and we sure hope it succeeds.

  2. We wish Aliante all the best.