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« February 2009 site news & notes | Home | Sam Caplan: Strikeforce booking Shamrock vs. Diaz for 4/11 San Jose event »

Station Casinos and bankruptcy: Letting the chips fall where they may

By Zach Arnold | February 9, 2009

The Las Vegas Sun has a new article talking about a pre-packaged bankruptcy offer by Station Casinos to avoid Chapter 11 proceedings.

What’s at stake? If the pre-packaged bankruptcy offer is approved by bondholders, the Fertitta family will remain in control. If it’s not approved, it’s a free-for-all.

Topics: Media, Zach Arnold | 2 Comments » | Permalink | Trackback | Share This

2 Responses to “Station Casinos and bankruptcy: Letting the chips fall where they may”

1. Luke says:

   February 10, 2009 at 2:54 am

   Too bad. I guess it just shows how quickly things can turn in a free market economy. Hopefully it doesn’t negatively impact UFC too much.

   Reply
2. Jeremy (not that Jeremy) says:

   February 10, 2009 at 4:19 pm

   Pre-packaged is the typical way that reorganization bankruptcies happen for larger companies. In certain industries, shuttering the business for a week or month can destroy the value of the company completely.

   Auto, airlines, and apparently casinos.

   Reply

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