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Stations Casinos Reorganization Plan Confirmed

Written by:

C Costigan

Published on:

Aug/30/2010

Station Casinos Inc. won approval of its reorganization plan at an Aug. 27 hearing when the bankruptcy judge in Reno, Nevada, signed a confirmation order. The plan was accepted by all creditor classes entitled to vote. The creditors’ committee ended up supporting the reorganization.

For details on the revised plan, click here for the July 29 Bloomberg bankruptcy report.

Station Casinos filed under Chapter 11 in July 2009. It has 13 properties in Las Vegas plus five joint ventures. It also operates casinos for American Indian tribes. Station’s debt was the result of a leveraged buyout in November 2007 by Feritta Colony Partners LLC.

The case is In Re Station Casinos Inc., 09-52477, U.S. Bankruptcy Court, District of Nevada (Reno).

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