Station Casinos Emerges from Bankruptcy | Business
Station Casinos announced Friday that it had emerged from bankruptcy after almost two years.
The restructuring means that all of the Station Casinos properties will remain under the company's control. It also means that Frank and Lorenzo Fertitta will remain in control of the company because they are majority stockholders. The Fertittas invested nearly $200 million dollars and own 45 percent of the shares.
“We are pleased to have completed the restructuring process and we look forward to this exciting new chapter in the Station Casinos story,” said Frank Fertitta III, Chairman and CEO of Station Casinos. “Lorenzo and I believe in the future of Las Vegas, which is why we remain committed to the Company and the community”.
The restructuring also means that 13,000 people employed by the casinos around southern Nevada will keep their jobs. Station Casinos owns Boulder Station, Fiesta Henderson, Fiesta Rancho, Green Valley Ranch, Palace Station, Red Rock Resort, Santa Fe Station, Sunset Station, Texas Station, Days Inn at Wild Wild West and the Wildfire Gaming. The Company also manages Aliante Station pursuant to a management agreement.