Station Casino 10k

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Station Casinos
TypeLimited liability company
IndustryGaming and hospitality
FoundedJuly 1, 1976; 44 years ago
Las Vegas, Nevada, U.S.
FounderFrank Fertitta Jr.
HeadquartersSummerlin South, Nevada, U.S.
California
Nevada
Key people
Frank Fertitta III, CEO
Lorenzo Fertitta, board member
Bob Cashell, board member (deceased)
RevenueUS$1.38 billion (2014)[1]
OwnerFrank Fertitta III(29%)
Lorenzo Fertitta(29%)
Deutsche Bank(25%)
Fidelity Investments(9%)
Oaktree Capital Management(6%)[2]
11,600 (2015)[3]
DivisionsFiesta Casinos
Wildfire Gaming
Websitesclv.com

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Casino
Red Rock Resorts, Inc.
NASDAQ: RRR (Class A)
Russell 2000 Component
FoundedApril 26, 2016; 4 years ago
Websiteredrockresorts.com

Station Casinos is an Americanhotel and casino gaming company based in the Las Vegas suburb of Summerlin South, Nevada, and founded by Frank Fertitta Jr.[4][5] Station Casinos, along with Affinity Gaming, Boyd Gaming and Golden Entertainment, dominate the locals casino market in Las Vegas. 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 Casinos has also branched out into managing casinos that they do not own. Red Rock Resorts, Inc. (NASDAQ: RRR) is a publicly traded holding company that owns a portion of Station Casinos.

History[edit]

The company started out as a locals casino operator on July 1, 1976, founded by Frank Fertitta Jr. Its first casino was the Bingo Palace, which was later renamed Palace Station.

On December 4, 2006, Fertitta's sons, Frank Fertitta III and Lorenzo Fertitta, and Colony Capital LLC, operating as Fertitta Colony Partners, made a highly leveraged offer to purchase all existing shares at $82 per share and take the company private.[6] The Fertitta brothers, their sister Delise Sartini, and Blake L. Sartini, her husband, with a combined investment of $870.1 million, purchased a 25% stake in Fertitta Colony Partners. Colony Capital contributed $2.6 billion for a 75% share.[7]

On July 28, 2009, Station Casinos filed for Chapter 11 bankruptcy. Station Casinos' filing listed $5.7 billion in assets against $6.5 billion in debt. The filing said the company had 510 holders of unsecured and subordinate debt totaling $4.4 billion.[8]

Station Casinos exited bankruptcy on June 17, 2011, with $4 billion less in debt and with creditors putting the company's 18 casinos back in the hands of the Fertitta family and their partners. The Fertitta brothers agreed to put nearly $200 million in the reassembled company and now own 45 percent of its shares. The other new equity owners include the company's main lenders, Deutsche Bank AG, which holds 25 percent; JPMorgan Chase with a 15 percent stake; and former bondholders with an additional 15 percent, according to lawyers on the deal.[9]

Station Casino 10k

Station Casinos announced on October 13, 2015, that it would return to the stock market with an initial public offering.[10] On April 26, 2016, Red Rock Resorts, Inc., a new holding company owning a portion of Station Casinos, went public on the NASDAQ Stock Exchange.[11]

On May 10, 2016, Station Casinos agreed to purchase the Palms Casino Resort for $313 million.[12][13]

Current casinos[edit]

Station Casinos
CasinoBrandGaming areaOpening dateAcquisition datePrevious namesPrevious owners and operators
Boulder StationStation Casinos89,443 sq ft (8,309.5 m2)August 23, 1994; 26 years agoN/ANoneNone
Green Valley RanchStation Casinos143,891 sq ft (13,367.9 m2)December 18, 2001; 19 years agoN/ANoneNone
Mount Rose StationStation Casinos165,000 sq ft (15,300 m2)TBDN/ANoneNone
Palace StationStation Casinos84,000 sq ft (7,800 m2)July 1, 1976; 44 years agoN/AThe Casino (1976–1977) and Bingo Palace (1977–1984)None
Palms Casino ResortStation Casinos94,840 sq ft (8,811 m2)November 15, 2001; 19 years agoOctober 1, 2016; 4 years agoNoneLeonard Green & Partners (2011–2016), Maloof family (2001–2016) and TPG Capital (2011–2016)
Red Rock Casino, Resort & SpaStation Casinos118,309 sq ft (10,991.3 m2)April 18, 2006; 14 years agoN/ANoneNone
Santa Fe StationStation Casinos151,001 sq ft (14,028.5 m2)February 14, 1991; 29 years agoOctober 2, 2000; 20 years agoSanta Fe (1991–2000)Santa Fe Gaming (1991–2000)
Station Casino RenoStation Casinos84,000 sq ft (7,800 m2)TBDN/ANoneNone
Sunset StationStation Casinos162,173 sq ft (15,066.4 m2)June 10, 1997; 23 years agoN/ANoneNone
Texas StationStation Casinos121,823 sq ft (11,317.7 m2)July 12, 1995; 25 years agoN/ANoneNone
Graton Resort & CasinoFederated Indians of Graton Rancheria340,000 sq ft (32,000 m2)November 5, 2013; 7 years agoN/ANoneNone
Fiesta HendersonFiesta Casinos73,450 sq ft (6,824 m2)February 10, 1998; 22 years agoJanuary 4, 2001; 19 years agoThe Reserve (1998–2001)Ameristar Casinos (1998–2001)
Fiesta RanchoFiesta Casinos59,932 sq ft (5,567.9 m2)December 14, 1994; 26 years agoJanuary 4, 2001; 19 years agoFiesta (1994–2001)Maloof family (1994–2001)
Wildfire CasinoWildfire Gaming6,800 sq ft (630 m2)January 27, 2003; 17 years agoUnknownUnknownUnknown
Wildfire LanesWildfire Gaming6,750 sq ft (627 m2)June 26, 2008; 12 years agoUnknownRenata's BowlingUnknown
Wildfire BoulderWildfire Gaming6,700 sq ft (620 m2)UnknownAugust 2, 2004; 16 years agoMagic Star CasinoUnknown
Barley'sWildfire Gaming5,190 sq ft (482 m2)January 18, 1996; 24 years agoN/ANoneNone
Wildfire SunsetWildfire Gaming4,700 sq ft (440 m2)August 2, 2004; 16 years agoUnknownThe Gold RushUnknown
Lake Mead LoungeWildfire Gaming3,500 sq ft (330 m2)UnknownUnknownUnknownUnknown
The Greens CafeWildfire Gaming1,088 sq ft (101.1 m2)N/AUnknownNoneUnknown
Wild Wild West Gambling Hall & HotelWildfire Gaming11,250 sq ft (1,045 m2)July 6, 1998; 22 years agoUnknownUnknownUnknown
  • Although not branded fully separately, Green Valley Ranch, Palace Station, Palms Casino Resort and Red Rock Resort are in a distinctly different upscale market niche from the other Station Casinos.

Former casinos[edit]

Station Casinos
Brand nameCasinoGaming areaOpening dateClosing dateCurrent namesPrevious namesCurrent owners and operatorsPrevious owners and operatorsAcquiredAcquisition dates50%
Station CasinosAliante Station125,000 sq ft (11,600 m2)November 11, 2008; 12 years agoN/AAliante Casino and Hotel (2012–present)NoneBoyd Gaming (2016–present)Aliante Gaming (2012–2016)
Apollo Global Management (2012–2016)
Standard General (2012–2016)
TPG Capital (2012–2016)
NoNovember 1, 2012; 8 years ago
September 27, 2016; 4 years ago
No
Station CasinosCastaways35,000 sq ft (3,300 m2)September 3, 1954; 66 years agoJanuary 29, 2004; 16 years agoNoneShowboat (1954–2000)Station Casinos (2004–present)UnknownYesOctober 1, 2004; 16 years agoNo
Station CasinosStation Casino Kansas City140,000 sq ft (13,000 m2)January 16, 1997; 23 years agoN/AAmeristar Casino Kansas City (2000–present)NoneGaming and Leisure Properties (2016–present)
Boyd Gaming (2018–present)
Ameristar Casinos (2000–2013)
Pinnacle Entertainment (2013–2018)
NoDecember 19, 2000; 20 years agoNo
Station CasinosStation Casino St. Charles130,000 sq ft (12,000 m2)May 27, 1994; 26 years agoN/AAmeristar Casino St. Charles (2000–present)NoneGaming and Leisure Properties (2016–present)
Boyd Gaming (2018–present)
Ameristar Casinos (2000–2013)
Pinnacle Entertainment (2013–2018)
NoDecember 19, 2000; 20 years agoNo
United Auburn Indian CommunityThunder Valley144,500 sq ft (13,420 m2)June 9, 2003; 17 years agoN/ANoneNoneUnited Auburn Indian Community (2003–present)Station Casinos (2003–2010)NoN/ANo

Development sites[edit]

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 in Summerlin South.
    • Durango Station – On South Durango Drive at Clark County 215 in Spring Valley 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 that of the Red Rock Resort.[14]
    • Siena – Across from the Siena age-restricted community on Town Center Drive in Summerlin.
    • Wild Wild West – At the intersection of Dean Martin Drive and West Tropicana Avenue in Paradise. 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
    • Station Casino Reno – Across from the Reno-Sparks Convention Center, at the intersection of Kietzke Lane and South Virginia Street. An 8-acre (3.2 ha) site acquired in 2005.[15][16]
    • Mount Rose Station – Across from The Summit, at the intersection of Mount Rose Highway and South Virginia Street. An 88-acre (36 ha) site acquired in 2005.[15][17][18]

Station Casinos 10k

Officers[edit]

  • Station Casinos
    • Frank Fertitta III, Chairman and Chief Executive Officer
    • Richard J. Haskins, President [deceased July 4, 2020[19]]
    • Stephen L. Cootey, Executive Vice President, Chief Financial Officer and Treasurer
    • Jeffrey T. Welch, Executive Vice President and Chief Legal Officer

References[edit]

  1. ^Form 10-K: Annual Report (Report). Station Casinos LLC. March 10, 2015. p. 51. Archived from the original on May 17, 2015 – via EDGAR.
  2. ^Form 10-K: Annual Report (Report). Station Casinos LLC. March 10, 2015. pp. 117–118. Archived from the original on May 17, 2015 – via EDGAR.
  3. ^Form 10-K: Annual Report (Report). Station Casinos LLC. March 10, 2015. p. 15. Archived from the original on May 17, 2015 – via EDGAR.
  4. ^'Interactive Map Viewer'. City of Las Vegas. Retrieved November 28, 2014.
  5. ^'Map'. Station Casinos. Retrieved November 28, 2014.
  6. ^Lipton, Joshua (December 4, 2006). 'Founders Lead Station Casinos Bid'. Forbes. Retrieved November 28, 2014.
  7. ^Knightly, Arnold M. (May 8, 2007). 'Fertittas will cash, take stake'. Las Vegas Review-Journal. Retrieved November 28, 2014.
  8. ^Knightly, Arnold M. (July 28, 2009). 'Station Casinos files for Chapter 11'. Las Vegas Review-Journal. Retrieved November 28, 2014.
  9. ^Triedman, Julie (June 20, 2011). 'After Two Rocky Years, Station Casinos Exits Bankruptcy'. The Am Law Daily. Retrieved November 28, 2014.
  10. ^Stutz, Howard (October 13, 2015). 'Station Casinos announces plans for an initial public offering'. Las Vegas Review-Journal. Retrieved October 14, 2015.[dead link]
  11. ^Driebusch, Corrie. 'Red Rock IPO Prices in Line With Casino Operator's Target'. The Wall Street Journal. Dow Jones & Company, Inc. Retrieved April 27, 2016.
  12. ^Morris, J.D. (May 10, 2016). 'Palms sold to Station Casinos for $312.5 million'. Vegas Inc. Retrieved May 10, 2016.
  13. ^'Red Rock Resorts announces agreement to acquire Palms Casino Resort' (Press release). Red Rock Resorts. May 10, 2016. Archived from the original on June 25, 2016. Retrieved May 10, 2016 – via EDGAR.
  14. ^'Durango Station Casino & Resort'. Mevold Studio. Archived from the original on December 14, 2014. Retrieved December 14, 2014.
  15. ^ ab'CFA - Hospitality Projects'. CFA, Inc. Archived from the original on May 5, 2016. Retrieved November 28, 2014.
  16. ^'Station Casino at the Convention Center'. Emporis GmbH. Retrieved November 28, 2014.
  17. ^'Mount Rose Station Hotel Casino'. Emporis GmbH. Retrieved November 28, 2014.
  18. ^Voyles, Susan (October 28, 2010). 'Proposed Station casino receives 5-year extension'. Reno Gazette-Journal. Archived from the original on November 14, 2014. Retrieved November 28, 2014.
  19. ^https://www.foxbusiness.com/money/red-rock-president-richard-haskins-dead-accident

Station Casino 10k

External links[edit]

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