Bodines to purchase Carson Valley Inn

Jeane and Patrick Mulreany, owners of the Carson Valley Inn, today signed a purchase agreement with the current owners of Bodines Casino in Carson City, for the sale of essentially all assets of the Carson Valley Inn and related properties. Terms and conditions of the sale were not released and are still subject to completion of due diligence and attainment of necessary regulatory approval and licensing. It is expected that the transaction will be complete by the end of 2009.

"It was a very difficult decision for us to make after 25 years of dedication to the business community, our guests and employees," said Jean Mulreany, owner of the Carson Valley Inn. "However, it's time for us to move in a new direction and we are confident that the new ownership, under the direction of Mike Pegram and the Carano family, will build upon and enhance the Carson Valley Inn experience."

Mike Pegram along with the Carano family, owners of the Eldorado Hotel Casino, Silver Legacy Resort Casino and Tamarack Junction Casino in Reno, Nev. and Rick Murdock, a Carson City native and current Vice-President of Sales for the Eldorado, will be partners in the Carson Valley Inn upon completion of the transaction.

"My partners and I are very excited about the opportunity to acquire the Carson Valley Inn. Jean and Patrick and their staff have done an incredible job over the last 25 years and we truly look forward to continuing that tradition of excellence for the residents and visitors of Minden and the Carson Valley," added Pegram.

The Carson Valley Inn is located on U.S. Highway 395 in Minden, NV near the intersection of State Highway 88. The largest hotel-casino property in Carson Valley, the Carson Valley Inn includes 152 hotel rooms, a 75-room motor lodge, 59 RV sites, a casino, sports book, poker room, three dining facilities, two lounges, 6,000+ square feet of convention and banquet space, the Chapel at the Inn, an indoor pool/spa/fitness facility and a Shell gas station and convenience store.