Station Casinos Stocks Boom after Reno Plans Announced.

Investors may have thought that they had extensive knowledge about Las Vegas powerhouse Station Casinos Inc, and its building plans for the next decade, but little did they know that the company had something else in mind.

Station Casinos has gathered over 120 acres of land in Reno, and intends to construct at least three casinos on this land. This is in addition to owning property for five future casino sites in Las Vegas, as well as plans to construct four new casinos in cooperation with Indian tribes in Michigan and California.

News of these plans helped push up Station Casinos' stock to a high on Friday. Station Casinos' record stock price was achieved despite claims by some analysts that the stocks were too expensive. Analyst’s tracking Station's stocks began to alter ratings to “buy” after the Reno plans were announced.

Glenn Christenson, the Chief Financial Officer of Station Casino, said that the company had not withheld news of their interest in Reno, but rather, until recently, Station Casinos had had no interest in the city. Since beginning to consider Reno more seriously, the company has reportedly become more excited for the new venture.

The explosion of Indian casinos in nearby Northern California has led to a loss of business for Reno’s casino district. Station’s entry, however, is expected to contribute to Reno Casinos and not harm them in any way.

Locals, as well as visitors, are expected to frequent the new Reno casinos as they are situated in attractive locations. Station Casinos hopes to develop the 50-acre site already by next year, followed by the other two sites, one 96 acres in size and the other, 8 acres.

The Gaming Control Board's strong May casino revenue report last week contributed to Station’s leap in stock. Station dominates the Las Vegas market, when it comes to off-strip casinos, another factor that helped boost stock prices.

Station Casinos will likely significantly increase its share of the local market after Red Rock Station opens and expansion projects are set under way in the coming year.

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