Visitreno

CaSwede · Joined: 28 Feb 2006 Posts: 866

I see the Sands in Reno is being sold. The famous Terrible Herbst group out of the Las Vegas area is buying the whole works. The properties sold also includes Rail City, Gold Ranch and some properties in Dayton. This will all take time to complete the process, but it looks like it will be a done deal. Is this going to be a good thing for Reno?

Dave · Joined: 18 Dec 2005 Posts: 212

Wow I don't know if that is a good or not. I figure our good friend Remano can help us out on this one. He knows his stuff on this type of thing! What do you know Remano?? Smile

remano · Joined: 20 Dec 2005 Posts: 717

I don't know much more on this other than what's in the papers.

http://news.rgj.com/apps/pbcs.dll/article?AID=/20060901/NEWS18/609010409&oaso=news.rgj.com/breakingnews

I know the deal has closed and has already received gaming board approval, which is one big hurdle. They plan to have the transition complete by the end of the year.

This one kind of caught me by surprise, because most of the financial information about Sands Regent has been positive, reporting steady profits, expanding Rail City, acquiring the new casino and so forth. It didn't seem like something they would want to sell, but I suppose the fact it wasn't in distress is what made it attractive to Terrible's.

Terrible's should be a good fit. They have a reputation for providing value and service in smaller markets. I've stayed at their Vegas hotel (off strip - the former Continental) and it seemed to be no-frills but well run. I've also visited their Pahrump casino with the same impressions. Nobody in the articles I've seen is talking about any major changes, at least not for a while.

Although I hate to see the continuing consolidation of the casino industry into just a handful of companies, I think this particular transaction will prove to be good for Reno. Herbst is not one of the big consolidators, but they do have a statewide network that may give the Sands a boost, and the fact that they are interested in moving into northern Nevada means they have confidence in the future of the area.

Mammothgambler · Joined: 25 Dec 2005 Posts: 619

Wow that's some news.

I do agree with Remano, the Terrible Herbst properties in LV have a good thing going on. They just did an expansion on their casino floor and added another tower to the hotel, and I swore their machines got looser (hadn't been in a couple of years). Their location in Henderson was also alot of fun, even had a bowling alley. Their food is good too.

I'm anxious to see how it turns out.

Floridagambler

Dave · Joined: 18 Dec 2005 Posts: 212

Hey Florida,
Just wanted to let you know it is good to see you back on the boards. I always enjoy your posts even the Anti-Harrah's ones. Smile

Glad your back and hope things are going well.
Dave
Has anyone heard anything more recent about the Sands. I know I am the minority on the board but I do like staying there. Confused

jerry · Joined: 11 Jan 2006 Posts: 759

what place in Hendeerson does Terribles own?
Did theyl change it much after purchase?

Mammothgambler · Joined: 25 Dec 2005 Posts: 619

Hi Jerry,

Their property in Henderson is called Terrible's Town. It's on the Boulder Highway down the road a little ways from the Boulder Hwy/Sunset Road intersection. It's basically a big bowling alley with a little casino inside and the layout of the place is similar to the main one on Flamingo & Paradise. It's a pretty fun place, never too crowded.

Dave, good to see you too. This coming up trip I'm not using debit cards at all!

floridagambler