History
The $662-million Aliante Station project was first announced on December 20, 2005 by Station Casinos. The casino was a joint venture between Station Casinos and the Greenspun Corporation, who had previously partnered in developing Green Valley Ranch. Greenspun contributed the 40-acre site, part of its Aliante planned community. The target market was expected to include the 6,500 households in Aliante and visitors to the Las Vegas Motor Speedway, among other locals and travelers.
Aliante Station opened on November 11, 2008, at 10:40 p.m. Aliante was originally going to open at 11:11, however due to such a large crowd and traffic, the casino opened sooner. Before the opening, a fireworks show was provided for the public.
After Station Casinos filed for bankruptcy in July 2009, Aliante was handed over in November 2011 to its creditors, a group of nine banks and three private equity firms that were owed more than $378 million, while the property's estimated liquidation value was only $47–53 million. ALST Casino Holdco LLC was created to own the resort, with its largest shareholders being Standard General LP (28%), Apollo Global Management (20%), and TPG Capital (20%). Station continued to manage Aliante under an agreement with the new owners until November 1, 2012.
Read more about this topic: Aliante Station
Famous quotes containing the word history:
“In history as in human life, regret does not bring back a lost moment and a thousand years will not recover something lost in a single hour.”
—Stefan Zweig (18811942)
“History takes time.... History makes memory.”
—Gertrude Stein (1874–1946)