STATION CASINOS OFFICIALLY FILES BANKRUPTCY

Posted on | July 29, 2009 | No Comments

By: Rich Bergeron

Station Casinos has filed for bankruptcy after negotiations with creditors failed to produce a workable solution. While the bankruptcy filing only affects a portion of the vast business and its many arms, it could be a very long fight. The company, laden with an estimated $5.7 billion in debt, is playing off the move as nothing to get alarmed about in recent press reports:

LAS VEGAS REVIEW-JOURNAL: CHAPTER 11 PROTECTION: Station Casinos regroups, continues normal operations at resorts

Hurt by Debt, Casino Firm Station Files for Chapter 11

Station Casinos ends negotiations with bondholders, files for Ch. 11 protection

ASSOCIATED PRESS STORY ON BANKRUPTCY

CASINO CONSULTING AND MANAGEMENT COMPANY NOT PART OF BANKRUPTCY