Station contract to manage Aliante Station terminated
Station Casinos LLC's contract to manage Aliante Station in North Las Vegas has been terminated for undisclosed reasons, the property's new owner said.
The property's owner, ALST Casino Holdco LLC, said Thursday that it and Station have agreed to terminate the management agreement dated Nov. 1.
"Station will continue to operate and manage the Aliante Station Casino and Hotel for a period of time pursuant to the transition services sections of the management agreement," ALST said in a regulatory filing signed by Soohyung Kim, one of its investors.
Kim, an investment adviser with Standard General LP in New York, didn't want to elaborate Thursday beyond the regulatory filing. Station Chief Financial Officer Marc Falcone was unavailable for comment.
Under the terms of the transition services section of the management agreement, Station could continue to manage the resort for 18 months. As Station Casinos Inc. emerged from bankruptcy in June, Aliante Station became the only property not to survive the reorganization.
Contact reporter Chris Sieroty at csieroty@reviewjournal.com or 702-477-3893.
