On October 13, 2015, Station Casinos, LLC (“Station”) filed an S-1 registration statement with the Securities and Exchange Commission (“SEC”) noting that the company will be making an initial public offering of stock through a new entity, Station Casino Corp. The announcement was made on the same day that Station announced that it had entered into an agreement to purchase all outstanding interests of Fertitta Entertainment (“Fertitta”) for a total of $460 Million.

Station began operations in 1976 in the Las Vegas market. The company went public in 1993, but was taken private in 2007 in a management-led buyout.In 2009, Station filed for Chapter 11 bankruptcy, emerging in June 2011 with Fertitta owning approximately 45% of the restructured company.

According to the draft prospectus filed with the SEC, Station operates 21 gaming properties across the country, with the majority located in the Las Vegas area. Station owns a 50% interest in MPM Enterprises, LLC, which is the manager of the Gun Lake Casino, a tribal casino owned by the Match-e-be-nash-she-wish Band of Pottawatomi Indians.

 

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