LAS VEGAS Station Casinos received all necessary approvals from the Nevada Gaming Commission to own and operate the Fiesta Hotel Casino and has begun the next phase of the regulatory process, which includes obtaining approval from the City of North Las Vegas. Pending that approval, the company expects to close the transaction and begin operating the Fiesta Casino Hotel in January 2001.
Station Casinos entered into a definitive agreement in July to acquire the Fiesta Hotel Casino for $185 million from Fiesta Hotel Corp., a subsidiary of Joe G. Maloof & Company.
Situated on 25 acres, the Fiesta currently offers approximately 70,000 square feet of casino space and 100 guestrooms. Upon completion of the transaction, the property will retain the Fiesta name and theme. (11/21/00)