Station’s big hit; Tribal roundup

There’s no doubt that Graton Resort, less than an hour’s driving distance from San Francisco, has been a success for Station Casinos. We just didn’t know how much. In addition to earning a $7.4 million management fee during 1Q14, Station has the casino on pace for 28% return on investment. The investment community is enamored — and not just of the financial results. “From an aesthetic perspective, Graton reminds us of a more modern Red Rock [Resort]. The fit and finish of the property was done at a very high level,” said Credit Suisse analyst Joel Simkins. That’s as high a compliment as you can pay a Station property.

The Federated Indians of Graton Rancheria have been raking in the money so fast they’ve already repaid $152 million of the $200 million they borrowed from Station. Meanwhile, the customers keep coming, many of them bused in from the Chinatown areas of Oakland and Frisco.

* For the next two months, the Seminole Tribe in Florida will have exclusive use of a new, 3-D slot machine developed by Spielo. (Talk about building a better mousetrap and the world will come to your door.)  No glasses are required to enjoy the three-dimensionality: Spielo’s software can “read” the movement of your head and adjust the screen according. Slot critic John Grochowski, not a man known for being extravagant with praise is nonetheless moved to rave, “The coins from a big win seemed to jump right off the screen and right at me. I reached out and grasped at them.” I don’t play slots often but I can’t wait for “Sphinx 3D” to make it to Nevada.