Texas station casino. Station Casinos - Wikipedia, the free encyclopedia

From Wikipedia, the free encyclopedia Station casino.

The company purchased several sites that were gaming-entitled, meaning that major casinos can be built at that location without additional approvals. There are only a limited number of such sites available in the Las Vegas area.

Station has also branched out into managing casinos that they do not own.

Contents

History [ edit ]

The company started out as a locals casino operator on July 1, 1976, opening the Bingo Palace. This establishment was later renamed Palace Station. The company went public with an IPO in 1993.

On December 4, 2006, Frank Fertitta III, Lorenzo Fertitta and Colony Capital LLC, operating as Fertitta Colony Partners, made a highly leveraged offer to purchase all existing shares at $82 per share and take the company private.

The Fertitta brothers, their sister Delise Sartini, and Blake L. Sartini, her husband, with a combined investment of $870.1 million, purchased a 25% stake in Fertitta Colony Partners. Colony Capital contributed $2.6 billion for a 75% share.

As of November 7, 2007, the company's stock (old symbol STN) was no longer listed on the New York Stock Exchange.

In March 2008, both Frank and Lorenzo Fertitta were listed as billionaires in Forbe's annual list of the world's billionaires, but the purchase loaded the company with billions in debt. As of May 2011, Frank was ranked 1057th on the list of world's billionaires, Lorenzo was ranked at 1140th. Both were tied for these rankings with several others.

On July 28, 2009, Station Casinos filed for chapter 11 bankruptcy. Station Casinos’ filing listed $5.7 billion in assets against $6.5 billion in debt. The filing said the company has 510 holders of unsecured and subordinate debt totaling $4.4 billion.

On August 21, 2009, Frank Fertitta Jr., the founder of Station Casinos and father of the Fertitta brothers, died from complications of a heart condition.

Station Casinos exited bankruptcy in June 2011 with $4 billion less in debt and with creditors putting the company's 18 casinos back in the hands of the Fertitta family and their partners. The Fertitta brothers agreed to put nearly $200 million in the reassembled company and now own 45 percent of its shares. The other new equity owners include the company's main lenders, Deutsche Bank AG, which holds 25 percent, JPMorgan Chase with a 15 percent stake and former bondholders hold an additional 15 percent, according to lawyers on the deal.

Station announced in October 2015 that it would return to the stock market with an initial public offering.

Casinos owned [ edit ]

7003830952660672000♠ 89,443 ,sq ,ft (8,309.5 ,m

000000001994-08-23-0000 August 23, 1994

7004124173274233600♠ 133,659 ,sq ,ft (12,417.3 ,m

000000002001-12-18-0000 December 18, 2001

7004153290016000000♠ 165,000 ,sq ,ft (15,300 ,m

Boulder station casino

7003780385536000000♠ 84,000 ,sq ,ft (7,800 ,m

000000001976-07-01-0000 July 1, 1976

7004110841687993600♠ 119,309 ,sq ,ft (11,084.2 ,m

000000002006-04-18-0000 April 18, 2006

7004145301283590400♠ 156,401 ,sq ,ft (14,530.1 ,m

000000002000-10-02-0000 October 2, 2000

7003752514624000000♠ 81,000 ,sq ,ft (7,500 ,m

7004123941016633600♠ 133,409 ,sq ,ft (12,394.1 ,m

000000001997-06-10-0000 June 10, 1997

7004114312545568000♠ 123,045 ,sq ,ft (11,431.3 ,m

000000001995-07-12-0000 July 12, 1995

Federated Indians of Graton Rancheria

7004315870336000000♠ 340,000 ,sq ,ft (32,000 ,m

000000002013-11-05-0000 November 5, 2013

7003682372828800000♠ 73,450 ,sq ,ft (6,824 ,m

000000002001-01-04-0000 January 4, 2001

Palace station hotel casino

7003556963015104000♠ 59,951 ,sq ,ft (5,569.6 ,m

000000002001-01-04-0000 January 4, 2001

7002631740672000000♠ 6,800 ,sq ,ft (630 ,m

000000002003-01-27-0000 January 27, 2003

7002627095520000000♠ 6,750 ,sq ,ft (627 ,m

000000002008-06-26-0000 June 26, 2008

7002622450368000000♠ 6,700 ,sq ,ft (620 ,m

000000002004-08-02-0000 August 2, 2004

7002482166777600000♠ 5,190 ,sq ,ft (482 ,m

000000001996-01-18-0000 January 18, 1996

7002436644288000000♠ 4,700 ,sq ,ft (440 ,m

000000002004-08-02-0000 August 2, 2004

7002325160640000000♠ 3,500 ,sq ,ft (330 ,m

7002101078507520000♠ 1,088 ,sq ,ft (101.1 ,m

7003104515920000000♠ 11,250 ,sq ,ft (1,045 ,m

000000001998-07-06-0000 July 6, 1998

Main street station casino

Although not branded separately, Green Valley Ranch and Red Rock Casino are in a distinctly different upscale market niche from the other five station casinos

Wildfire Boulder was formerly Magic Star Casino

Wildfire Lanes was formerly Renata's Bowling

Wildfire Sunset was formerly Gold Rush casino

Casinos [ edit ]

Development sites [ edit ]

All the Nevada sites below are gaming-entitled, unless otherwise noted. Gaming-entitled means that a casino can be built on that location without special approvals.

Wild Wild West – At the intersection of Dean Martin Drive and West Tropicana Avenue in Paradise. Due to the special proximity of this site to the Las Vegas Strip, Station intends to build a tourist oriented mega resort on this site.

Reno Gazette-Journal reporter Bill O'Driscoll made an erroneous report about the plan being cancelled on November 17, 2014. The article was later corrected.

Officers [ edit ]

Rich Haskins, General Counsel

References [ edit ]

"Map". Station Casinos. Retrieved November 28, 2014.

External links [ edit ]

Melco Crown Entertainment (34%)

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This page was last modified on 14 October 2015, at 19:19.

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