Thunder Valley Casino May Be in Trouble

May 5, 2009 - Wrote By Meagan

The struggling economy has forced Thunder Valley Casino, which is considered one of the most successful USA casinos in the country, to lay off 5  percent of it's employees. The lay offs were directed towards part-timers and apparently affected less then 100 employees. Station Casinos Inc., the Las Vegas conglomerate that runs Thunder Valley, had a 10 percent drop in revenue last year, and is considering filing bankruptcy after missing a $13 million interest payment last month. In addition to the struggling economy, new competition of the Red Hawk Casino also is believed to have a hand in the lay offs. Thunder Valley has done everything from replacing top executives and bringing in an entirely new team,  to initiating a hiring freeze to compete against the economic downturn.

The truth is that Thunder Valley was not the only one suffering from the falling economy, In February revenue from gambling at the Reno and Lake Tahoe casinos fell to more than 23 percent, according to the Nevada Gaming Control Board. Construction projects have been put on hold in Las Vegas and elsewhere, and the Cal Neva resort at Lake Tahoe's north shore has gone into foreclosure. The layoffs at Thunder Valley are said to not affet the construction of a hotel and garage at the Lincoln-area Casio. Although the construction was suspended last fall, it is said to have been resumed mid-April.

Despite the mix of new competition and an slow economy, Thunder Valley's overall health doesn't appear to be threatened. It has been a highly grossing and  successful casino since opening in 2003, and it's net income was estimated at around $275 million a year. " Regional " casinos like Thunder Valley usually hold up better then destination resorts, and Thunder Valley is one of the most profitable casinos in the country. It is ranked alongside upper class casinos such as the Bellagio in Las Vegas, industry consultants said. Although getting current read on the finances of Thunder Valley is nearly impossible, it appears that despite the lay offs, it will continue to keep it's head above the water and survive.