|This article needs additional citations for verification. (October 2010)|
|Type||Limited liability company|
|Industry||Entertainment & Hospitality|
|Founded||Las Vegas, Nevada, U.S. (July 1, 1976)|
|Headquarters||Summerlin, Nevada, U.S.|
|Key people||Frank Fertitta III, CEO|
|Revenue||$950 million USD (2009)|
Station Casinos Reno[dead link] (archive)
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.
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. It was listed as Boyd Gaming instead.
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 it's 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.
|Brand Name||Casino||Gaming area||Opened or acquired||open/acq.||50%|
|Station Casinos||Boulder Station||89,443 sq ft (8,309.5 m2)||August 23, 1994||open|
|Station Casinos||Green Valley Ranch||133,659 sq ft (12,417.3 m2)||December 18, 2001||open||Yes|
|Station Casinos||Mount Rose Station||165,000 sq ft (15,300 m2)||–||–|
|Station Casinos||Palace Station||84,000 sq ft (7,800 m2)||July 1, 1976||open|
|Station Casinos||Red Rock Resort||119,309 sq ft (11,084.2 m2)||April 18, 2006||open|
|Station Casinos||Santa Fe Station||156,401 sq ft (14,530.1 m2)||October 2, 2000||acq.|
|Station Casinos||Station Casinos Reno||81,000 sq ft (7,500 m2)||–||–|
|Station Casinos||Sunset Station||133,409 sq ft (12,394.1 m2)||June 10, 1997||open|
|Station Casinos||Texas Station||123,045 sq ft (11,431.3 m2)||July 12, 1995||open|
|Federated Indians of Graton Rancheria||Graton||340,000 sq ft (32,000 m2)||November 5, 2013||open|
|Fiesta Casinos||Fiesta Henderson||73,450 sq ft (6,824 m2)||January 4, 2001||acq.|
|Fiesta Casinos||Fiesta Rancho||59,951 sq ft (5,569.6 m2)||January 4, 2001||acq.|
|Wildfire Gaming||Wildfire Casino||6,800 sq ft (630 m2)||January 27, 2003||acq.||Yes|
|Wildfire Gaming||Wildfire Lanes||6,750 sq ft (627 m2)||June 26, 2008||acq.|
|Wildfire Gaming||Wildfire Boulder||6,700 sq ft (620 m2)||August 2, 2004||acq.|
|Wildfire Gaming||Barley's||5,190 sq ft (482 m2)||January 18, 1996||open||Yes|
|Wildfire Gaming||Wildfire Sunset||4,700 sq ft (440 m2)||August 2, 2004||acq.|
|Wildfire Gaming||Lake Mead Lounge||3,500 sq ft (330 m2)||acq.|
|Wildfire Gaming||The Greens Cafe||1,088 sq ft (101.1 m2)||open||Yes|
|Wildfire Gaming||Wild Wild West||11,250 sq ft (1,045 m2)||July 6, 1998||acq.||Yes|
- 50% joint ownership is with Greenspun Corporation
- 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
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.
- Las Vegas area
- Flamingo Road – At Clark County 215 and Town Center Drive in Summerlin South.
- A site located at the intersection of Cactus Avenue and South Las Vegas Boulevard in Enterprise.
- Durango Station – On South Durango Drive at Clark County 215 in Spring Valley near the Rhodes Ranch planned community. Announced plans for a bowling alley and movie theater at this location. The design is shown to be similar to the of Red Rock Resort.
- Siena – Across from the Siena age-restricted community on Town Center Drive in Summerlin.
- Station Casinos continues to own the land that the former Castaways (Fremont Street location) used to stand on in Downtown Las Vegas.
- 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 area
- Station Casinos Reno – Across from the Reno-Sparks Convention Center, at the intersection of Kietzke Lane and South Virginia Street. A 7-acre (2.8 ha) site acquired in 2005.
- Mount Rose Station – Across from The Summit, at the intersection of Mount Rose Highway and South Virginia Street. An 88-acre (36 ha) site acquired in 2005. 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. O'Driscoll stated that the sale of the 101-acre (41 ha) site was at the southeast corner of the intersection at Geiger Grade, Mount Rose Highway and South Virginia Street.
- Station Casinos
- Frank Fertitta III, Chairman & CEO
- Marc Falcone, CFO
- Scott Nielson, CDO
- Rich Haskins, General Counsel
- "Interactive Map Viewer." City of Las Vegas. Retrieved on June 5, 2009.
- "Map." Station Casinos. Retrieved on June 5, 2009.
- "Founders Lead Station Casinos Bid". Forbes. December 4, 2006.
- Knightly, Arnold. "GOING PRIVATE: Fertittas will cash, take stake". Las Vegas Review-Journal. Retrieved 2007-05-08.
- "Station Casinos files for Chapter 11".
- Triedman, Julie (June 20, 2011). "After Two Rocky Years, Station Casinos Exits Bankruptcy". The Am Law Daily.
- "CFA - Hospitality Projects".
- "Station Casino at the Convention Center". Emporis GmbH.
- "Mount Rose Station Hotel Casino". Emporis GmbH.
- Voyles, Susan (October 28, 2010). "Proposed Station casino receives 5-year extension". Reno Gazette-Journal.
- O'Driscoll, Bill (November 18, 2014). "Las Vegas-based Station Casinos selling south Reno land". Reno Gazette-Journal. Archived from the original on November 17, 2014.
- O'Driscoll, Bill (November 17, 2014). "Station's property for sale". Twitter.