That was the structure required by bankruptcy reorganization. A year later, Station Casinos filed for Chapter 11 bankruptcy reorganization and emerged in June 2011 with a new ownership structure, having trimmed $4 billion of debt.Ĭurrently, Station Casinos Chairman and CEO Frank Fertitta III and Lorenzo Fertitta control 57 percent of Station Casinos and their wholly owned operating company is paid a management fee. The company was publicly traded before 2008, when private equity ownership took over Station Casinos. The Nevada Gaming Commission signed off on the Control Board recommendation immediately after the 90-minute hearing. The company hinted that it would like to launch the IPO before it announces fourth-quarter earnings next month.įalcone told gaming regulators timing was the primary reason it asked the Control Board for a special hearing. During questioning, Station Casino Chief Financial Officer Marc Falcone said the company is still awaiting Securities and Exchange Commission approval for the stock sale.įalcone said ongoing stock market conditions - the Dow has declined more than 11 percent since Jan. Station Casinos provided gaming regulators with confidential information on the initial public offering, including how much the company hopes to raise. It’s business as usual going forward.”Ī timetable for the stock sale was not disclosed. “We are not changing the Station name or brand name and we’re not changing our marketing or branding,” Haskins said. Station Casinos, which includes 19 large and small casinos throughout the Las Vegas Valley and Indian casinos in Northern California and Michigan, is the operating company under Red Rock Resorts. Station Casinos President Richard Haskins said Red Rock Resorts was just the corporate name and how the company will be addressed going forward. Regulators were told the public company structure, while unique to the casino industry, has been successfully used by other industries.

Nevada gaming regulators signed off Thursday on plans for Station Casinos to become a public company under a new name - Red Rock Resorts - which will be traded on the Nasdaq.Ĭompany officials told the Gaming Control Board in a special hearing in Las Vegas that Red Rock Resorts would be a holding company. An online website has listed Henderson as one of the top 19 most sexiest spring break locales in the United States, naming the Fiesta and Sunset Station hotels as sexy hangouts for college students. The Sunset Station hotel-casino is seen on Monday, Main Henderson.

Red rock belongs to station casino