Casino Station is a game company based in the Las Vegas suburb of Summerlin, Nevada, founded by Frank Fertitta, Jr. Station Casinos, along with Affinity Gaming, Boyd Gaming, and Golden Entertainment, dominate the local casino market in Las Vegas. The company buys several sites that are titled games, which means that large casinos can be built in those locations without additional approval. There are only a number of such sites available in the Las Vegas area. The stations also branched out to manage casinos they did not own. Red Rock Resorts, Inc. (NASDAQ: Ã, RRR) is a publicly traded holding company that owns a portion of Station Casinos.
Video Station Casinos
History
The company started as a local casino operator on July 1, 1976, opening the Bingo Palace. This establishment was later renamed the 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 buy all existing shares for $ 82 per share and make the company is private.. Brother Fertitta, their sister Delise Sartini, and Blake L. Sartini, her husband, with a combined investment of $ 870.1 million, bought a 25% stake in Fertitta Colony Partners. Colony Capital accounts for $ 2.6 billion for a 75% stake. On November 7, 2007, the company's stock (old symbol STN) is no longer listed on the New York Stock Exchange.
In March 2008, Frank and Lorenzo Fertitta were listed as billionaires in the list of world billionaires Forbes , but the purchase made the company billions with billions of debt. In May 2011, Frank was ranked 1057 on the list of world billionaires, and Lorenzo was ranked 1140. Both are tied for this rank with some others.
On July 28, 2009, Station Casinos filed for bankruptcy chapter 11. Station Casinos' filings registered $ 5.7 billion in assets against $ 6.5 billion in debt. The filing said the company has 510 unsecured and subordinate debt holders of $ 4.4 billion.
On August 21, 2009, Frank Fertitta Jr., founder of Station Casinos and father of Fertitta's brother, died of complications of a heart condition.
Casino Stations out of bankruptcy in June 2011 with $ 4 billion less in debt and with creditors putting 18 casino companies back in the hands of the Fertitta family and their partners. The Fertitta brothers agreed to include nearly $ 200 million in the re-assembled company and now owns 45 percent of the shares. Other new equity owners include the major lender of the company, Deutsche Bank AG, which holds 25 percent; JPMorgan Chase with 15 percent share; and former bondholders with an additional 15 percent, according to lawyers in the deal.
The station announced in October 2015 that it would return to the stock market with an initial public offering. On April 26, 2016, Red Rock Resorts, Inc., the new parent company that owns a portion of Station Casinos, went public on the NASDAQ Stock Exchange.
In May 2016, Station agreed to purchase Palms Casino Resort for $ 313 million.
Maps Station Casinos
Current Casino
- Although not stamped separately, Green Valley Ranch and Red Rock Resort are in an upscale niche market distinctly different from the other five Casino Stations.
- Wildfire Boulder was previously the Magic Star Casino.
- The previous Wildfire Lanes were Renata's Bowling.
- Wildfire Sunset was once the Gold Rush.
Former casino
Development site
All Nevada sites below are games, unless otherwise noted. The game entitled means that casinos can be built in those locations without special approval.
- Las Vegas area
- Flamingo Road - At Clark County 215 and Drive Town Center in South Summerlin.
- Durango Station - In South Durango Drive at Clark County 215 in Spring Valley near the planned community of Rhodes Ranch. Announce plans for bowling and cinema at this location. The design looks similar to Red Rock Resort.
- Siena - Across from the age-restricted Siena community on Town Center Drive in Summerlin.
- Wild Wild West - At the intersection of Dean Martin Drive and West Tropicana Avenue in Paradise. Due to the site's special proximity to the Las Vegas Strip, Station intends to build a tourist-oriented megaresort on this site.
- Reno area
- Reno Casino Station - Across the Reno-Sparks Convention Center, at the crossroads of Kietzke Lane and South Virginia Street. Site of 8 hectares (3.2 hectares) acquired in 2005.
- Mount Rose Station - Across from The Summit, at the intersection of Mount Rose Highway and South Virginia Street. Site of 88 hectares (36 acres) obtained in 2005.
Officer
- Casino Stations
- Frank Fertitta III, Chairman & amp; CEO
- Stephen Cootey, CFO
- Scott Nielson, CDO
- Rich Haskins, General Counsel
References
External links
- Official website
Source of the article : Wikipedia
0 Comments