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Station Casinos Sold To... Uh... Station Casinos

By Chuckmonster on Tuesday, 27th February 2007 2:29am
  » filed under Las Vegas  comments: 0

   

Purveyors of Las Vegas locals gambling joints, Station Casinos, has accepted a $8.8B takeover offer from Stations owners Lorenzo and Frank Fertita (with a helping hand from Colony Capital - owners of the Las Vegas Hilton). Stations operates a string of locals joints that dot the outlying areas of Las Vegas.

This is another example of goofy gaming sector finances gone even wilder. Station's main shareholders are the Fertita brothers, the buyers are the Fertitas. They're paying themselves to buy their own company.

Yah... this is an over simplified view of the whole thing, but it's at least partially accurate. Regardless, Stations joints don't particularly do it for us (with the exception of the beautiful Red Rock Resort). Video Poker anyone?



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