Archon Corporation

Archon Corporation is an entertainment company based in Laughlin, Nevada, with a corporate history rooted in Nevada casino ownership and development. The business was established in 1983 as Hacienda Resorts, Inc., whose principal asset was the Hacienda Casino. It subsequently operated under several corporate names, including Santa Fe Corporation, Sahara Gaming Corporation, and Santa Fe Gaming Corporation, before adopting the Archon Corporation name in May 2001. The company’s history reflects the consolidation and restructuring of a number of Nevada gaming interests. Its former portfolio and associated activities included the Hacienda, the Sahara Hotel and Casino, Sahara Tahoe, Sahara Reno, Santa Fe Casino, Pioneer Hotel & Gambling Hall, and the Wet 'n Wild water-park business. Several of these assets were later sold to other operators. The Hacienda was sold to Circus Circus Enterprises in 1995, while the Sahara Hotel and Casino was sold to William Bennett in the same year. The Santa Fe Casino was sold to Station Casinos in 2000. Archon and its predecessor companies also pursued property-development projects. Santa Fe Valley was announced in 1994 as a proposed development, with construction initially expected to begin in 1996. Financing difficulties and weak financial quarters delayed the project. Site preparation eventually began in 1998, but the planned development was not completed. The land was sold to Station Casinos in 1999 and subsequently sold again for use as a shopping center. The company’s corporate identity changed again in 2001, when Santa Fe Gaming Corporation became Archon Corporation. In later descriptions, Archon’s assets included commercial office buildings in Dorchester, Massachusetts, commercial office buildings in Gaithersburg, Maryland, and the Stoney's Rockin' Country trademark. This indicates a shift away from being principally identified with operating casinos toward holding a mixture of real estate and intellectual-property assets, although the available reference material does not establish the complete scope of its later operations. Archon’s governance has included Nevada political figures. State Senator Sue Lowden was identified as a board member and as the company’s executive vice president, secretary, and treasurer; State Senator Bill Raggio was also listed as a board member. In March 2013, Esplanade Capital, described as Archon’s second-largest shareholder, proposed acquiring the company for $101.5 million. Sue Lowden rejected the proposal as not a serious offer, according to the cited reference material. The materials do not establish whether the proposal advanced, whether Archon remained publicly listed afterward, or the company’s current operating status. Archon should therefore be understood as a historically significant corporate vehicle in the Nevada gaming and entertainment sector rather than as a consumer-facing product brand. Its identifiable activities span casino ownership, resort properties, planned real-estate development, water-park operations, commercial property holdings, and trademark ownership. The available sources provide a clear outline of its corporate name changes and former assets but do not provide sufficient information to determine its present-day management, financial condition, website, or continuing business operations.

Archon Corporation began in 1983 as Hacienda Resorts, Inc., a company formed around ownership of the Hacienda Casino. Its corporate identity later changed to Santa Fe Corporation and then Sahara Gaming Corporation. These name changes accompanied a succession of casino-related transactions and development plans in Nevada. During the Sahara Gaming period, the company attempted in 1994 to sell approximately 40 acres of land to Players International. The transaction was not completed and fell through on February 7, 1995. The company also announced Santa Fe Valley in 1994, a proposed development for which construction was initially expected to start in July 1996. The project was repeatedly postponed because of poor financial quarters and the lack of financing. Site preparation began in July 1998, with an opening targeted for December 1999, but construction never started. The company’s casino assets changed hands during the mid-to-late 1990s. In 1995, the Hacienda was sold to Circus Circus Enterprises, while the Sahara Hotel and Casino was sold to William Bennett. The company subsequently adopted the name Santa Fe Gaming Corporation. The Santa Fe Valley land was sold to Station Casinos in 1999, and Station Casinos sold it the following year for development as a shopping center. Santa Fe Casino was also sold to Station Casinos in 2000. In May 2001, Santa Fe Gaming Corporation changed its name to Archon Corporation. Under the Archon name, the company was associated with a more varied asset base than its earlier casino-centered portfolio. Reported assets included commercial office buildings in Dorchester, Massachusetts, commercial office buildings in Gaithersburg, Maryland, and the Stoney's Rockin' Country trademark. The company’s former assets and businesses also included Pioneer Hotel & Gambling Hall, Hacienda, Sahara Hotel and Casino, Sahara Tahoe, Sahara Reno, Santa Fe Casino, and Wet 'n Wild. Archon’s board and executive structure included Nevada political figures. Sue Lowden was identified as a board member and held the positions of executive vice president, secretary, and treasurer. Bill Raggio was also identified as a board member. In March 2013, Esplanade Capital, described as Archon’s second-largest shareholder, made a proposal to acquire the company for $101.5 million. Lowden rejected the offer as not a serious proposal. The available material does not establish the outcome of the proposal or provide reliable information about Archon’s subsequent corporate status. The company was also connected through ownership of the Stoney's trademark to litigation involving the Stoney's Rockin' Country organization. Chris Lowden was reported as being sued by investors over allegations of fraud and racketeering. The available reference does not provide enough detail to determine the final disposition of those claims. Overall, Archon’s documented history is one of corporate renaming, casino-asset sales, unsuccessful development efforts, and later diversification into real estate and entertainment-related intellectual property.

• 2013

  Esplanade Capital proposes an acquisition

  [1]Archon Corporationen.wikipedia.org

  The private-equity firm proposes acquiring Archon for $101.5 million; the proposal is rejected by Sue Lowden as not serious.

• 2001

  The company adopts the Archon name

  [1]Archon Corporationen.wikipedia.org

  Santa Fe Gaming Corporation changes its name to Archon Corporation in May.

• 2000

  Santa Fe Casino is sold

  [1]Archon Corporationen.wikipedia.org

  Santa Fe Casino is sold to Station Casinos.

• 1999

  Santa Fe Valley land is sold to Station Casinos

  [1]Archon Corporationen.wikipedia.org

  The undeveloped Santa Fe Valley property is sold to Station Casinos.

• 1998

  Santa Fe Valley site preparation begins

  [1]Archon Corporationen.wikipedia.org

  Site preparation starts for Santa Fe Valley, but the proposed project is never constructed.

• 1995

  Major casino assets are sold

  [1]Archon Corporationen.wikipedia.org

  The Hacienda is sold to Circus Circus Enterprises and the Sahara Hotel and Casino is sold to William Bennett.

• 1994

  Santa Fe Valley is announced

  [1]Archon Corporationen.wikipedia.org

  A proposed Santa Fe Valley development is announced, but its construction schedule is later delayed by financing and financial difficulties.

• 1983

  Hacienda Resorts, Inc. is established

  [1]Archon Corporationen.wikipedia.org

  The company begins as Hacienda Resorts, Inc., owner of the Hacienda Casino.

A Nevada-centered entertainment and gaming company whose activities developed from casino ownership into a broader portfolio of former gaming properties, planned developments, commercial real estate, and entertainment-related intellectual property.

• Gaming and hospitality · 1983

  Casino and resort properties

  Archon and its predecessor companies were associated with a portfolio of Nevada casino and resort properties. Reported former properties include the Hacienda, Sahara Hotel and Casino, Sahara Tahoe, Sahara Reno, Santa Fe Casino, and Pioneer Hotel & Gambling Hall. The available reference primarily documents ownership and disposals rather than current operating details.

• Water-park entertainment

  Wet 'n Wild

  Wet 'n Wild is identified among Archon's former businesses or assets. The supplied reference does not specify the exact operating period, location, or property-level financial performance.

• Commercial real estate

  Commercial office buildings

  Later reported Archon assets included commercial office buildings in Dorchester, Massachusetts, and Gaithersburg, Maryland. These properties represent a diversification beyond the company's earlier Nevada gaming portfolio.

• Entertainment intellectual property

  Stoney's Rockin' Country trademark

  Archon Corporation was reported to own the Stoney's Rockin' Country trademark. The trademark connected the company to the Stoney's entertainment organization and to investor litigation involving Chris Lowden.

• Investor allegations involving Stoney's Rockin' Country

  Chris Lowden was reported as being sued by investors over allegations of fraud and racketeering within the Stoney's Rockin' Country organization. Archon was linked to the matter because the company was identified as the owner of the Stoney's trademark. The supplied reference does not state the outcome of the litigation.

  Source

Read more

• 2013

  Reject Esplanade Capital acquisition proposalM&A

  Background

  Esplanade Capital, described as Archon's second-largest shareholder, proposed acquiring the company for $101.5 million.

  Action taken

  Sue Lowden dismissed the proposal as not a serious offer.

  Aftermath

  The supplied reference does not document a completed transaction or the proposal's subsequent outcome.

  Proposed acquisition value. (2013 proposal)

  Source

• 2001

  Rename the company Archon CorporationStrategy

  Background

  After earlier identities as Hacienda Resorts, Santa Fe Corporation, Sahara Gaming Corporation, and Santa Fe Gaming Corporation, the company changed its name again.

  Action taken

  Santa Fe Gaming Corporation adopted the Archon Corporation name in May 2001.

  Aftermath

  The Archon identity became associated with a more diversified set of real-estate and entertainment-related assets after the disposal of several casino properties.

  Source

1. 1Archon Corporationen.wikipedia.org