Station Casinos

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Station Casinos, Inc.
Type Private
Founded Las Vegas, Nevada (1976)
Headquarters Las Vegas, Nevada
Key people Frank J Fertitta, CEO
Industry Entertainment & Hospitality
Products Casino Games
Resorts
Revenue ▲ $1.11 billion USD (2005)
Employees 11,500 (2005)
Website www.stationcasinos.com

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.

Contents

[edit] 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 opens Boulder Station on August 23, 1994.

The company opens Texas Station on July 12, 1995.

The company opens Barley's Casino on January 18, 1996 in a 50/50 joint venture with the Greenspun Corporation.

The company opens 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 opens Thunder Valley Casino in June, 2003 as the casino operator for an Native American owned casino.

The company acquires 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.[1] The Fertitta brothers, their sister Delise Sartini, and Blake Sartini, her husband, for a combined investment of $870.1 million or a 25% share in Fertitta Colony Partners and walk away with a combined $495 million. Colony Capital would contribute $2.6 billion for their 75% share.[2] On completion of the buyout, the companies stock, which was trading under the ticker symbol STN, would no longer be listed on the New York Stock Exchange.

[edit] Officers

  • Station Casinos
    • Frank Fertitta III, Chairman & CEO
    • Lorenzo Fertitta, President
    • Glenn Christenson, CFO
    • Scott Nielson, CDO
    • William W. Warner, COO
    • Rich Haskins, General Counsel

[edit] Casinos owned

  • Fiesta
    • Fiesta Rancho
    • Fiesta Henderson
  • Barley's 50% joint venture with Greenspun Corporation
  • Wildfire Casino
  • Wild Wild West
  • Gold Rush
  • Magic Star
  • Lake Mead Lounge

[edit] Casinos operated

  • Thunder Valley Casino

[edit] Development sites

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, Summerlin
    • A site located near Cactus Road on the South Las Vegas Blvd.
    • Durango Station On South Durango Drive at Clark County 215 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 Station.
    • Siena-Across from the Siena age-restricted community on Town Center Drive, Summerlin.
    • Aliante Station in the planned community of Aliante on a 40 acre site at Clark County 215 and Aliante Parkway. A joint project with The Greenspun Corporation owning 50%. Construction to begin in 2007. Gaming entitlement for this site is not know.
    • Station Casinos continues to own the land that the former Castaways (the one on Boulder Highway) used to stand on.
    • The Wild Wild West hotel on West Tropicana. Due to the special proximity of this site to the Las Vegas Strip, Station intends to build a tourist oriented megaresort on this site.
  • Reno area
    • Convention Center- Across from the Reno-Sparks Convention Center. An 8 acre site acquired in 2005.
    • Geiger Grade-At the intersection of Geiger Grade Road and South Virginia Street. A 96 acre site acquired in 2005.
    • Mt. Rose-At the intersection of Mt. Rose Highway and US 395. A 50 acre site acquired in 2005. Not gaming entitled.

[edit] External links

[edit] References

  1. ^ Founders Lead Station Casinos Bid. Forbes.
  2. ^ Knightly, Arnold. GOING PRIVATE: Fertittas will cash, take stake. Las Vegas Review-Journal. Retrieved on 2007-05-08.