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Nevada gaming regulators signed off Dtations on plans for Station Casinos to become a public company under a new name — Red Rock Resorts — which will be traded on the Stations private equity casino. Regulators were told the public company structure, while unique to the casino industry, has been successfully used by other industries.
Station Casinos President Richard Haskins said Red Rock Resorts was just the corporate name and how the company will be addressed illegal gambling age las vegas forward. A timetable for the stock sale was caxino disclosed. Station Casinos provided gaming regulators with confidential information on the initial public offering, including how much the company hopes to raise.
Stations private equity casino said ongoing stock market conditions — the Dow has declined more than 11 percent since Jan. The company hinted that it would like to launch the IPO before it announces fourth-quarter earnings next month.
Falcone told gaming regulators timing was the primary reason it asked the Control Board for a special hearing. The Nevada Gaming Commission signed off on the Control Board recommendation immediately after the minute hearing. The company was publicly traded beforewhen private equity ownership took over Station Casinos.
That was the structure required by bankruptcy reorganization. The Fertitta brothers did not attend the Control Board hearing. Falcone said Red Rock Resorts will no longer pay management fees with the outside operating company being eliminated. However, the management and operations of the company will not change. Germany-based Deutsche Bank owns 25 percent of Station Casinos.
The bankruptcy reorganization stations private equity casino the bank an option to place Station Casinos into an IPO in Junethe five-year anniversary of the restructuring. However, Deutsche Bank became a topic of discussion at the hearing. Several busloads of Station Casinos employees packed the Control Board hearing room at the Sawyer Building, calling for state gaming agents to monitor the area. Culinary members addressed the Control Board during the public comment session about concerns with Deutsche Bank and asked that the investor be called forward for licensing.
In the new structure, the bank will have 3. Since coming out of bankruptcy, Station Casinos has seen 18 percent revenue growth and cash flow increases of 50 percent since June Station Casinos announced plans go public in October and told gaming regulators Thursday it was a successful operation during its years in the public markets. Contact reporter Howard Stutz at hstutz reviewjournal. Find cypress bayou casino executive management on Twitter.
Skip to content Las Vegas Shooting River rock casino hotel delta. Gaming Control Board chairman A. The board signed off on Station Casinos becoming stwtions public company under a new name — Red Rock Resorts — which will be traded on the Nasdaq.
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Home Front Page Footer Listing. Your best source of local jobs and career training JOBS.Station Casinos Inc., which owns 12 casinos in the Las Vegas area, “Most businesses that private equity looks at aren't sitting on some of the. Home News & Analysis Eurazeo writes off Station Casino investment The French private equity firm has written down to zero its €m. Neighborhood casino operator Station Casinos Inc. said Monday that it had agreed to be acquired by a private equity group that includes key.