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Station Casinos miss debt payments — reportedly on purpose
By Zach Arnold | February 17, 2009
The Las Vegas Review-Journal reports that the company didn’t pay out $15.5M USD to pay off debts. The company has one month to make payment or else go in default. The Associated Press says that the company elected not to make the debt payment.
Wouldn’t you like to do the same thing with the money that you owe on your credit cards?
Meanwhile, MMA Payout notes that Station’s senior notes have been downgraded to ‘D’ status.
S & P has a new credit report out on Zuffa LLC, the parent company of UFC & WEC.
Topics: Media, Zach Arnold | 1 Comment » | Permalink | Trackback |
I think that if we see Quebec actually rebuff UFC, and New York continue to wallow in non-regulation, then we’ll see Zuffa’s rating drop in the next ratings period.
This is exactly the kind of potential problems that lead to it being a BB in the first place, and if they materialize, it’s an issue, even if they still have a successful model in Vegas and other places. Their record on improving profitability in the UK shows is also important.