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Stations Casinos To Expand Out of Nevada

By Chuckmonster on Tuesday, 16th August 2005 8:56pm
  » filed under Las Vegas  comments: 0


Station Casinos Inc. has purchased land in Northern California for the development of a casino the company intends to build and manage for an Indian tribe.

In a document filed today with the Securities and Exchange Commission, Station said a company subsidiary on Thursday bought about 271 acres near Rohnert Park in Sonoma County. The company expects the federal government to take a portion of the land into trust for the Federated Indians of the Graton Rancheria.

The purchase follows an appeals court ruling in California last month that found that the proposed casino can proceed without further input from local voters. After the city of Rohnert Park approved an agreement to share casino revenue with the tribe, residents gathered signatures to bring the agreement to a popular vote.

[ Following the Harrah's model, Stations is going to start infiltrating the local tribal markets nationwide. They've also got plans for a new joint up in Reno. Our economic advisors suggest a BUY on Station Casinos stock - its currently 68 bucks, but will go to 90 then split. - Your friendly neighborhood Ed ]



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