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Gaming Board Signs Off on Station Casinos Buy-Out

LAS VEGAS-The $5.4-billion management led buy-out of Station Casinos will be considered for final approval by the Nevada Gaming Commission later this month.

By Brian K. Miller | Updated on October 05, 2007

LAS VEGAS-The $5.4-billion privatization of Station Casinos moved a step closer to consummation late last week when state Gaming Control Board signed off on the public company’s acquisition by Fertitta Colony Partners, a joint-venture partnership of the gaming company’s founding family and Los Angeles-based Colony Capital, which also owns the Las Vegas Hilton.

The $90 per-share buy-out will be considered for final approval by the board’s parent, the Nevada Gaming Commission, on Oct. 18 in Carson City. Due to Station Casinos’ management of Thunder Valley Casino, an Indian resort in Sacramento, the transaction also requires the approval of the National Indian Gaming Commission, which has yet to set a date to consider the deal. Stockholders approved the plan in mid-August.

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