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The Chapter 11 filing by Station Casinos Inc. of Las Vegas won't interfere with Thunder Valley's operations, said Doug Elmets, a spokesman for the Lincoln casino and its owner, the United Auburn Indian Community. He said the Station entity that runs Thunder Valley, Station Casinos California Ltd., wasn't part of the bankruptcy filing.
"Their financial situation has no bearing at all on the success of Thunder Valley," he said.
But it's a sign of the ongoing problems hitting almost all casinos, including Thunder Valley. The Lincoln casino laid off nearly 100 workers in May, although some were rehired in other capacities.
Red Hawk Casino in Shingle Springs trimmed about 250 jobs since its December opening, its management company said in May. At Lake Tahoe, the Horizon Casino laid off 75 workers and eliminated table games in the spring.
Elmets said the climate for Thunder Valley remains "challenging" but there's been a small increase in customer traffic lately.
"They may not be spending as much as before, but we have seen an uptick in business," he said. He said casino executives sense "the economy is rebounding."
The recession has halted casino construction projects in Las Vegas and elsewhere and put several operators under severe stress. Nevada gambling revenue, probably the best benchmark of the industry's health, has fallen 13.7 percent since last July, according to the Nevada Gaming Control Board.
Station Casinos has operated Thunder Valley since its 2003 opening. The Las Vegas company has been struggling with debt issues, and publicly contemplating bankruptcy, for several months. It owns and operates casinos throughout the West, mostly in the Las Vegas area.
It also owns a 6.7 percent share of Las Vegas' Palms Casino Resort, which is controlled by the Maloof family, owner of the Kings.
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Call The Bee's Dale Kasler, (916) 321-1066. Read his blog on the economy, Home Front, at www.sacbee.com/blogs.
To see more of The Sacramento Bee, or to subscribe to the newspaper, go to http://www.sacbee.com/. Copyright (c) 2009, The Sacramento Bee, Calif. Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA.
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