Station Casinos Inc. is a Las Vegas, Nevada based gaming company.
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Station Casinos Inc. is a Las Vegas, Nevada based gaming company.
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.
The company has since branched out into managing casinos owned by other companies.
On February 23, 2009 Boyd Gaming Corp. has made a $950 million offer to acquire a significant portion of Station Casinos in a filing with the Securities and Exchange Commission. The offer was to purchase 14 of the 18 casinos owned and operated by Station in the Las Vegas area. Station would only retain the three older Station casinos (1) Palace, (2) Boulder and (3) Sunset and the new upscale Red Rock casino. Boyd expressed an interest in continued discussion to acquire some of the final four properties. Since Station Casinos is planning to go into a negotiated bankruptcy, Boyd is hoping that this offer will be appealing to bondholders.
History
The company started out as a locals casino operator in 1976 opening the Bingo Palace on July 1st. This establishment was later renamed Palace Station. It was renovated in 1999.
The company went public with an IPO in 1993.
The company opened Boulder Station on August 23, 1994.
The company opened Texas Station on July 12, 1995.
The company opened Barley's Casino on January 18, 1996 in a 50/50 joint venture with the Greenspun Corporation.
The company opened Sunset Station on June 10, 1997.
The company acquired the Santa Fe Casino on October 2, 2000.
The company acquired the Fiesta brand when it purchased the Fiesta Rancho on January 4, 2001.
The company acquired the The Reserve on January 29, 2001.
The company acquired the Wild Fire Casino on January 27, 2003.
The company opened Thunder Valley Casino in June, 2003 as the casino operator for an Native American owned casino.
The company acquired the Gold Rush Casino and the Magic Star Casino on August 2, 2004.
On December 4, 2006, Frank Fertitta III, Lorenzo Fertitta, and Colony Capital LLC, operating as Fertitta Colony Partners, made an offer to purchase all existing shares at $82 per share and take the company private. The Fertitta brothers, their sister Delise Sartini, and Blake 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, which traded under the ticker symbol nyse2: STN, was no longer listed on the New York Stock Exchange.
- The company opened Aliante Station on November 11, 2008.
Officers
- Station Casinos
- Frank Fertitta III, Chairman & CEO
- Tom Friel, CFO
- Scott Nielson, CDO
- Kevin Kelley, COO
- Rich Haskins, General Counsel
