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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. Red Rock Resorts, Inc. RRR is a publicly traded holding company that owns a portion of Station casinos Casinos.
The company started out as a locals casino operator on July 1,opening the Bingo Palace. This establishment was later renamed Palace Station. Station casinos company went public station casinos an IPO in In Station casinosboth Frank and Lorenzo Fertitta were listed as billionaires in Forbes ' annual list of station casinos world's billionaires, but the purchase loaded the company with billions in debt.
As of MayFrank was ranked th on the list of world's billionaires, and Lorenzo was ranked at th. Both were tied for these rankings with several others.
On July 28,Station Casinos filed for chapter 11 bankruptcy. On August 21,Frank Fertitta Jr. The other new equity owners include the company's main lenders, Deutsche Bank AG, which holds 25 percent; JPMorgan Chase with a station casinos percent stake; and former bondholders http://provincianotizie.info/online-blackjack-with-surrender.php an additional 15 percent, according to lawyers on the deal.
Station announced in October that it would return to the stock market with an initial public offering. All the Nevada sites below station casinos gaming-entitled, unless otherwise noted. Gaming-entitled means that a casino can be built on that location without special approvals.
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