Having succeeded in establishing itself as the leader among so-called "locals" casinos in the Las Vegas area, Station Casinos Inc. (STN) is looking northward to possibly becoming the "locals" giant in the Reno area.
On Friday, the company announced it had entered into a ground lease and option agreement with Rose One LLC for an eight-acre property located at the northwest corner of the intersection of South Virginia Street and Kietzke Lane in Reno. This is the third property that Station Casinos officials have sited for possible development.
Earlier this year, the company bought 96 acres of land at the intersection of Geiger Grade Road and South Virginia St. A short time later, the company acquired a 50-acre site south of Reno, near U.S. Highway 395.
According to officials, the company plans to develop the 50-acre site first with construction expected to start as soon as 2006.
As for the Indian casino called Thunder Valley the company operates for a Native American tribe near Sacramento, Cal., the company has indicated that it will not have a material affect on the Reno projects.