Station Casinos Files For Bankruptcy Protection
Las Vegas-based Station Casinos Inc. filed for bankruptcy protection Tuesday, making it the latest casualty in the recession-wracked gambling industry.
Despite months of haggling, the company failed to reach a prearranged agreement with all its lenders. Bondholders control $2.3 billion of the company's $5.7 billion in debt.
The company's 18 casinos are separate entities wholly owned by Station and aren't part of the bankruptcy filing. They will continue to operate as usual, a Station official said. All of the debt is held by the parent company.
See entire story in the Wall Street Journal:
http://online.wsj.com/article/SB124881967460688103.html
Despite months of haggling, the company failed to reach a prearranged agreement with all its lenders. Bondholders control $2.3 billion of the company's $5.7 billion in debt.
The company's 18 casinos are separate entities wholly owned by Station and aren't part of the bankruptcy filing. They will continue to operate as usual, a Station official said. All of the debt is held by the parent company.
See entire story in the Wall Street Journal:
http://online.wsj.com/article/SB124881967460688103.html
posted by Ron Futrell at
5:45 PM
0 Comments:
Post a Comment
Subscribe to Post Comments [Atom]
<< Home