UNITE HERE Releases Report Analyzing Impact of Oversupply
Launches Investment Blog
OCTOBER 27, 2006. UNITE HERE released a report analyzing the impact of oversupply on the proposed Aliante Station Casino in North Las Vegas. The casino will be a 50/50 joint-venture between Station Casinos, Inc. (NYSE:STN) and the Greenspun Corporation. Construction on the $600 million project is scheduled to start in early 2007, with a 2008 completion. The first phase of the project will have 2,000 slot machines and 202 hotel rooms. Station Casinos will develop and manage the property.
The 10-page report, titled 'Econ 102: Supply/Demand Imbalance,' examines new supply coming online in the North/Northwest Las Vegas locals market and the impact that it could have on Aliante Station. The report details the following points:
o Aliante Station is just one of six new casinos proposed for the North/Northwest Las Vegas area. Once built, these casinos could more than double the size of the locals gaming market in that area and Station Casinos' share of the North/Northwest Las Vegas market could plummet 37%.
o Aliante Station, in which Station Casinos only has a 50% share, could cannibalize Station Casinos' three wholly-owned properties in the area.
o Population growth will not keep up with the increased supply. Over the next eight years, slot growth in the North/Northwest Las Vegas locals market could outpace population growth by 43%, leading to a supply/demand imbalance that could impact Station Casinos.
o Station Casinos has actually lobbied to make it more difficult for competitors to enter the market. Its efforts have not been successful thus far.
UNITE HERE also launched an investment blog today (www.DropHandleAndHold.org) that is focused on the Las Vegas locals market. Investors can find out how to obtain a copy of the Aliante report on the blog.
Marriott International, Inc. (NASDAQ: MAR) is a global leading lodging company based in Bethesda,Maryland, USA, with more than 4,200 properties in 80 countries and territories. Marriott International reported revenues of nearly $14 billion in fiscal year 2014. The company operates and franchises hotels and licenses vacation ownership resorts under 19 brands, including: The Ritz-Carlton®, BVlgari®, EDITION®, JW Marriott®, Autograph Collection® Hotels, Renaissance® Hotels, Marriott Hotels®, Delta Hotels and Resorts®, Marriott Executive Apartments®, Marriott Vacation Club®, Gaylord Hotels®, AC Hotels by Marriott®, Courtyard®, Residence Inn®, SpringHill Suites®, Fairfield Inn & Suites®, TownePlace Suites®, Protea Hotels® and MoxyHotels®. Marriott has been consistently recognized as a top employer and for its superior business ethics. The company also manages the award-winning guest loyalty program, Marriott Rewards® and The Ritz-Carlton Rewards® program, which together surpass 50 million members. For more information or reservations, please visit our website at 
