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The Honolulu Advertiser
Posted on: Sunday, June 6, 2010

11 Station Casinos sites auction-bound

Advertiser Staff

Hawaii news photo - The Honolulu Advertiser

Red Rock Resort in Summerlin, Nev., 10 miles west of the Strip, is not one of the 11 Station Casinos properties that will be auctioned together in August.

Business Wire via Bloomberg News

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A federal bankruptcy judge has approved a plan that will put 11 Station Casinos properties up for auction. That will include all but five of Station's "locals casinos," packaged as a single entity. Not included are the Red Rock Resort, Palace, Sunset and Boulder Stations, along with the Wild Wild West and an adjoining 110 acres of land. The auction will be held sometime in August. Will the result be a complete reorganization of the current locals-casino scene? Not necessarily. The opening bid of $772 million is being tendered by a group led by the company's current principals, attempting to retain their control.

BACK IN LUCK: A plan is finally in place for the reopening of downtown's shuttered Lady Luck, which closed its doors in 2006 for what was supposed to be a one-year hiatus. Reportedly, remodeling and expansion plans have been submitted to city officials, but there's no word yet on a time frame.

CLASSIC SLOTS: The Eastside Cannery on Boulder Highway has installed several old-time slot, video poker and keno machines that dispense coins into trays, as opposed to the ticket-in-ticket-out (TITO) coinless technology that now dominates the casino floors. The Classic Slot Room has about 50 of the old-style machines that were the rage in the '80s and early '90s.

UP AND DOWN: The first two events in this year's World Series of Poker produced opposite results for participation. The Poker Players Championship brought in 116 players willing to pay the astronomical $50,000 buy-in, up from just 95 in 2009. However, the tournament's lowest buy-in tournament ($1,000) pulled "only" 4,345 players, nearly 28 percent below last year's total of 6,012.

Q: Can you recommend a classy place to sip wine and mingle ... that's also of value?

Find out more about Las Vegas shows, buffets and deals at www.LasVegasAdvisor.com.