Navegante Generates Impressive Results in Northern Nevada

RENO, Nev., Jan. 26, 2011 /PRNewswire/ -- Navegante, which manages the casino operations at the Grand Sierra Resort in Reno, Nev., announces impressive YOY results for November 2010 of revenue growth of 30.38%.  During that same time period, 2010 total gross gaming revenue for the Washoe County/Reno Area for reporting properties of $36 Million and Over Revenue market declined 20.31%.  Also, year-to-date through November 2010, the $36 Million and Over Revenue market for Washoe County/Reno Area was down 2%, while the Grand Sierra Casino increased revenue by 2.91%.

"We are always striving to improve our operations at all of our properties, and to do that our first goal is to get to know the need and wants of our clientele," said Larry D. Woolf, Chief Executive Officer of Navegante.  "During the past year, we've implemented a variety of improvements and continually enhanced our operational strategies where the results are reflected in increased revenue and a rise in market share."  

In Elko County, the Red Lion Hotel & Casino also outperformed within their respective market with the trailing 12 months ended in November 2010 showing an increase in table games revenue of 11.44% for the property and an increase in slot revenue of 10.58%.  The balance of the county during that same time period showed a decline in slot revenue of 2.62% and a decline in table game revenue of 7.52%.  

The increase in visitation at the Red Lion Casino & Hotel is a direct reflection of the recent capital improvements within the property that included the opening of Elko's newest restaurant, bar and lounge, Aspens Bar & Grill.  Aspens provides a dining experience like no other in Elko. The ongoing renovations and changes for the property showcases the continued commitment that Navegante has overall to keep improving every property that Navegante operates.

"Our gaming properties in Northern Nevada, The Grand Sierra Casino in Reno and the Red Lion Hotel & Casino in Elko, have performed tremendously well in 2010.  We attribute these successes to our ability to adapt our operations and facilities to focus on the needs, wants and demands of the targeted market.  These efforts have allowed our operations to out-perform within their respective markets," said Woolf.  "No two gaming markets are alike. An operator needs to have the ability to identify certain market attributes and conditions and be able to adapt the operational approach accordingly, which we do very well.  If you operate the same way in different markets, you will hinder the performance of one or more of the properties."

Another win in the region for Navegante was at their Gold Country Casino, located in Elko Nevada.  In response to their clientele, Navegante added a new system to the slot floor, which increased the trailing 12 months ended in November 2010 slot revenue by 27.75%.

About Navegante

Navegante was established in 1995 by Larry J. Woolf, former Founding Chairman, President and Chief Executive Officer of the MGM Grand Hotel & Casino in Las Vegas and is headquartered in Las Vegas, Nevada.  Navegante owns, leases, manages and operates casinos throughout Nevada as well as in other domestic and international locations. The company has a comprehensive track record of operating and managing successful projects and has an unparalleled reputation that is built on its commitment to integrity, honesty and fair dealings. The extraordinary depth and breadth of experience that Navegante has assembled provides a diverse and comprehensive range of skill sets and expertise in the development and management of hotel and casino projects in the hospitality industry worldwide.  Navegante also provides executive recruiting and staffing through its sister company, CasinoRecruiter.com. Focused on positions at the director level and above, CasinoRecruiter.com provides top-tier candidates to casinos seeking the best executive talent in the industry. For more information, call (702) 798-1000 or visit www.navegantegroup.com.

SOURCE Navegante