Searchlight is on a roll these days as rerouted truck
traffic streams through the tiny mining hamlet. So, capitalizing on the
post-Sept. 11 closing of Hoover Dam to big rigs, Herbst Gaming Corp. is building
a Terrible’s Town Casino on U.S. Highway 95.
The venture, approved by the State Gaming Control Board
last week, will feature 75 slot machines ”” roughly doubling Searchlight’s
current total. A market and a McDonald’s are also ticketed for the eight-acre
The casino is the Herbst family’s fifth in Southern
Nevada. Its E-T-T Gaming subsidiary, which purchased Jackpot Enterprises’
gaming operations for $38 million, operates 7,750 slot machines statewide.
Traffic counts on U.S. 95 through Laughlin are up
substantially since Terror Tuesday, as commercial haulers running between
Arizona and Nevada have been barred from using the U.S. 93 route that crosses
In other board action:
— Herbst won approval for offering $170 million in
Series B notes. The initial Series A offering in August exceeded projections by
some $15 million.
— The Bourbon Street Casino on East Flamingo Road
is getting a sports book. It will be operated as a satellite site out of the
Reno-based Club Cal Neva.
— Top Gun Gaming is partnering with Konami
Gaming to develop a “Rock Around the Clock” slot. The Scottsdale, Ariz.,
designer, which also teamed with Bally Gaming to develop the Hollywood Betty
slot, says it plans to move its offices to Nevada.
— Harold Holder received approval to purchase Sharkey’s
Nugget in Gardnerville. The former Sears executive also has a stake in the
Silver Club in Sparks, the El Capitan in Hawthorne and the Sundance in
Winnemucca. Applying to operate the Model T truck stop in Winnemucca, Holder
said, “We think we add to the economic structure of these communities.’’
— As expected, the board adopted a $1 million financial
criteria requirement for play in Nevada’s new international gaming salons.
Minimum wagers were set at $500. Citing a survey showing that the average bet at
high-limit tables along the Strip runs between $60,000 and $140,000, board
member Bobby Siller called the rule “more than fair.” Attorneys for MGM
Mirage, which pushed for the new salons, agreed.
Final approval will come when the Gaming Commission meets later this month.