Who would have thought that competition for Station
Casinos in Las Vegas could come from somewhere other than a competing casino
operator like Boyd Gaming. Well, this is precisely what seems to be the case now
that Station has unveiled a series of costly renovations to their Santa Fe
Casino Resort on North Rancho Road, Nevada. The Santa Fe, which is located just
a couple miles north of Texas Station and Fiesta Rancho - two Station Casinos
properties - could end up competing against itself if growth in the northwest
valley comes to a halt.
This does not seem like it will be the case,
however. According to the financial consulting firm, Applied Analysis, the
casino growth pattern in the northwest valley has been following the growth
pattern of the residential base in the area. The fact that Santa Fe Casino could
not keep up with the rising demand in the first place is why it became outdated
and was left behind in the Las Vegas dust. Station Casinos purchased it from
Sahara Casino Partners in 2000 with a moderate $71 million renovation plan in
mind, which then evolved into a $182 million ground up renovation.
The new Santa Fe Casino, which sits upon
thirty-eight acres of prime real estate, now boasts two parking garages with
over 5,000 spaces, a remodeled 60-lane bowling alley, a sixteen screen cinema
complex, additional restaurants (including an additional two more and an
entertainment lounge in early 2007), a new state-of-the-art 259-seat sportsbook
and expanded casino floor space which now houses 2,900 slot machines, a twelve
table poker room and about forty table games. Also on the $458 million budget
(which includes the $205 million property purchase) was a brand new ice skating
rink, now relocated to Stations Fiesta Casino and Resort.
Despite warnings by some gaming research analysts
that Station could be receiving financial strain from extra competition,
including their soon-to-be-opened Aliante Station in February, 2007 and Boyd
Gaming's planned North Coast Casino in Northern Las Vegas, Station is not
flinching. Devoted players at Santa Fe have already expressed their allegiance
to the casino, even though Aliante Station will be in closer proximity to their
homes. The renovations have apparently left a sweet flavor in the mouths of many
Las Vegas locals who appreciate the time and money that Station Casinos has put
into bringing gambling and family entertainment to Nevada.