Thursday, Oct. 20, 2011 | 8:11 p.m.
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.
Aliante Casino + Hotel, 7300 Aliante Parkway, is a Four Diamond AAA-rated resort at Aliante Parkway and Interstate 215, bringing dining, gaming and entertainment to North Las Vegas. Located across from the Aliante Golf Course, the $675 million dollar resort features more than 200 rooms and suites. It opened in 2008 as part of the Station Casino family and began operating under its own management in the fall of 2012.
The casino floor has more than 2,000 slot machines, 40 tables games. The casino also features an all-paper, all-day bingo hall with a blackout progressive starting at $10,000. It also features a race and sports book that offers an extensive menu of wagering propositions not found elsewhere.
Dining includes four restaurants and eight fast food eateries. The signature restaurant is MRKT sea & land, which features steak and seafood and a 5,000-bottle wine list. Three new restaurants were introduced in fall 2012: Bistro 57, which offers Mediterranean-inspired fare; The Salted Lime, a margarita bar featuring food offerings from south of the border, and Medley Buffet, which will serve culinary treats from around the world. The food options for quick eats include Capriotti's Sandwich Shop, Johnny Rocket's, Panda Express Gourmet Chinese Food, T.G.I. Friday's, Dairy Queen, Orange Julius, Rubio's Fresh Mexican Grill and Villa Pizza.
Guests can enjoy live entertainment at the Access Showroom, a 650-seat concert venue. For movies, the resort features the Regal Aliante Stadium 16 & IMAX. The ETA Lounge is Aliante's nightlife scene, with a private VIP section, a DJ booth and cold cocktails. The pool features palm trees, umbrellas, daybeds and cabanas.
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