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Aliante Station Reports $1.2 Million Quarterly Profit

Submitted by Adam Candee, 8 News NOW
Wednesday, August 15th, 2012, 11:30am
Aliante Station Reports $1.2 Million Quarterly Profit

A surprising turnaround for the gaming resort in North Las Vegas takes place.

Aliante Station hotel-casino in North Las Vegas on Tuesday reported a second-quarter profit, as revenue from the casino, hotel, restaurants and bars improved. The 202-room property cost $662 million to develop and opened in late 2008. It was spun off to investors in its debt last year as part of the Station Casinos Inc. bankruptcy. Station Casinos has continued to manage the property.

Read more at the Las Vegas Review-Journal... Read More

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Culinary Training Academy Helps Sahara Workers

Submitted by Adam Candee, 8 News NOW
Monday, May 16th, 2011, 1:09pm
Culinary Training Academy Helps Sahara Workers

The Culinary Training Academy (CTA) today is hosting an open house for all former Sahara workers seeking retraining and potential new job placement.

Monday's closure will affect nearly 400 members of the Culinary Workers Union Local 226 and Bartenders Union Local 165.  The casino’s owner, SBE Entertainment, and the unions have worked together closely to help workers financially weather the shutdown and secure new employment.

SBE agreed to provide workers with severance pay based on their years of service.  Even workers who were laid off within the last 12 months are eligible for the pay.  Workers with 20 or more years at the company will receive $5,000.  Workers with 15 to 20 years will receive $3,750.  The amounts go down from there, but even workers with less than a year of service will receive a severance check.

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Eastside Cannery "Lights It Up Blue" for Autism Awareness

Submitted by Mitch Truswell on Saturday, April 2nd, 8:36 pm

The iconic Eastside Cannery building will attract even more attention on April 1st and 2nd, especially during the nighttime hours.  That's because the structure will be illuminated in blue. "Light It Up Blue" is a nationwide effort to encourage businesses and residences to light up their structures in blue light in recognition of those families affected by autism.  The Eastside Cannery, on Boulder Highway is able to change the colors displayed on the building quite easily.  There are roughly 16,000 LED lights on the exterior of the building which can be programmed to change colors or illuminate one particular shade of color.  The blue lights will be visual Friday, April 1st and Saturday April 2nd, which is World Autism Awareness Day.  Every 1 in 110 children is affected by the autism disorder.  More information on Light It Up Blue can be found at www.lightitupblue.org and www.autismspeaks.org.

 

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St. PETrick’s Day fundraiser benefiting The Animal Foundation March 20th

Submitted by Evelyn Laurence
Monday, March 14th, 2011, 1:16pm
St. PETrick’s Day fundraiser benefiting The Animal Foundation March 20th

This Sunday, swing by the Aliante station to celebrate St. PETrick's Day, a fundraiser to benefit The Animal Foundation, the non-profit responsible for running the Lied Animal Shelter. The party kicks off at 2pm, and will feature craft beer tastings and vegetarian cuisine. Raffles will be ongoing throughout the event, and The Animal Foundation will bring along a number of dog that are able to be adopted. Tickets for St. PETrick's Day start at $10.

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Judge Approves Auctioning Station Casino Hotels

Submitted by 8 News NOW
Friday, May 28th, 2010, 6:53pm

RENO, Nev. -- A federal bankruptcy judge in Nevada has approved a plan to auction 11 Station Casinos properties on the open market.

U.S. Bankruptcy Court Judge Gregg Zive in Reno said Friday that he'll supervise the Aug. 6 sale. The judge says he wants to control disentangling what he called a complex set of relationships with "legal issues and questions at every step of that separation."

The proposal would spin off the Red Rock Resort, Palace Station, Sunset Station, Boulder Station and Wild Wild West properties into a holding company owned by company lenders, real estate investor Colony Capital, and members of the casino company's founding family.

The holding company would offer $772 million for the remaining 11 casinos, land holdings, and American Indian casino contracts as one entity.

(Copyright 2010 by The Associated Press. All Rights Reserved.)

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Boyd Objects to Station Casinos Bankruptcy Plan

Submitted by 8 News NOW
Thursday, April 22nd, 2010, 5:46pm

LAS VEGAS -- Casino operator Boyd Gaming Corp. is objecting to a proposed bankruptcy plan by rival Station Casinos Inc., saying it devalues certain properties that would be sold under a court auction.

Boyd said in a Wednesday filing in federal bankruptcy court in Reno that Station's current plan would call for most of its properties to be sold without player databases and other operating tools essential for casinos.

Boyd said that makes the properties less valuable to outside buyers. Boyd has publicly declared interest in buying out its main rival in the locals casino market in Las Vegas, but its offers have been rejected.

A judge has set a May 4 hearing to discuss Station's proposal. Station owns all or part of 18 properties, and is proposing to split itself in two.

 (Copyright 2010 by The Associated Press. All Rights Reserved.)

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More Homeowners Falling Delinquent on Mortgages

Submitted by 8 News NOW
Monday, March 29th, 2010, 11:54pm

LAS VEGAS -- The number of Southern Nevada homeowners delinquent on their mortgage payments has climbed steadily for the past several months. In some cases, it's people just willing to walk away from their homes, and in other cases, homeowners are holding out hope that they will get a loan modification.

In any given neighborhood, chances are good that a homeowner is the process of walking away from their mortgage. In the past, five months was typically the longest a homeowner could stay in their home until the bank would come knocking. But that is no longer the case.

Nick Nolf with The Nolf Group has been in the real estate business through the boom, the bust, and now the slow turn-around.

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