Home»News Home»Station Casinos, creditors reach bankruptcy deal
Station Casinos, creditors reach bankruptcy deal
Page Last Updated: Thursday July 29, 2010 2:01pm PDT
A U.S. Bankruptcy Court filing Wednesday in Reno outlines a proposal for the Official Committee of Unsecured Creditors to gain up to a 15 percent ownership stake in a new company including Station Casinos lenders and a business formed by company founders Frank Fertitta III and Lorenzo Fertitta.
The Fertittas' new company is called Fertitta Gaming.
The committee represents bondholders who are owed $2.5 billion. They'd invest up to $100 million in the new entity and drop opposition to Chapter 11 reorganization.
The proposed settlement must be approved by a bankruptcy judge who plans to supervise an Aug. 6 auction of 11 Station Casinos properties.
COMMENTS
Thats what i hate about the older population in this town, a lot of them (not all)have zillions of points at stations,borrow from family members,sit at a machine for hours on end and smoke and smoke,fingers are yellow. and at christmas they complain that they cant afford to buy gifts for the grand kids?!So they give us those freebies they get every week for being a loyal gambler. Whats a 13 year old going to do with a tomato slicer?!
For starters...be lucky you get a gift, be happy the older generation has something to do that they enjoy. If you are worried about YOUR gift, go buy your own. You sound very ungrateful. There isnt alot to do in this desert and if gambling is something ALL generations enjoy doing, then leave them alone. Nothing worse then bunch of hipocrits that whine about the gambling, THIS IS NEVADA ITS A GAMBLING STATE, DONT LIKE IT LEAVE. =-)
Jb you are missing that persons point. So many families in this town are hurt by a loved ones gambling. If you had to seek help for your grandmother you would understand. When a grandparent says that she cant even afford a christmas present for there grand kid and they have a half million station casino points-id say there is a problem-wouldnt you!? Gambling in moderation is ok. Just because you can drink and buy it from Albertsons to Walmart should i tell people to leave nevada because you can drink and buy it 24 hours a day?
Jb is one of those old guys with nothing to do all day but to play his pennies and demand drinks and no tipping. Balding and overweight,he goes home with his clothes smelling like cigarettes. He says to the cocktail lady 'THIS IS NEVADA, I DONT HAVE TO TIP YOU,DONT LIKE IT LEAVE.=-) Hey JB can i have one of your fantastic gifts you get every week at station casinos. How much money did you have to put in the slot machine to get that FREE gift! I thought with age you get wisdom-not in vegas when these old people gamble.
My 2 cents. No real need to freak out over your grandmothers points. 500,000 points equals $500 in slot play not $500,000. Each 1,000 points equal $1. Maybe grandma should use her points for a few days of gambling enjoyment?
My 2 cents. No real need to freak out over your grandmothers points. 500,000 points equals $500 in slot play not $500,000. Each 1,000 points equal $1. Maybe grandma should use her points for a few days of gambling enjoyment?
The way things are run at station casinos...grandma might have to play somewhere else. You should tell your grandma to use her points ASAP because whoever takes over might not accept the points and years of gambling go down the drain. Can you imagine the old timers yelling and screaming that their millions of points are gone in the wind...i would hate to work at the slot club when they re open!
Why is grandma gambling so much that she has half a million points?With all the money she donated to station casinos (and many like her)-stations should be doing ok-right?
Give me one BIG break Please. Just like my step mom who comes here & spends $1000, in one day. Then took her grandkids that she was here visiting ages 10 & 13 shopping & made them by stuff with there allowance,because she told them that grandma can't afford to buy them things because shes broke, shame on her. Then she went out later that evening to blow more money!
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Home»News Home»Station Casinos, creditors reach bankruptcy deal













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July 29, 2010 11:15am PDT
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My grandmother has about a half million points on her players card at station properties, will they still be good after the auction? Or should she start using all those points? I wish she wouldnt have accumulated those points but thank god she never had to borrow money from any of us!!