A tentative approval has been granted to Station Casinos, which would allow the locals casino chain to pay financial distributions to the company’s owners, with no requirement for approval from gaming regulators. The condition in place has been there since the company was owned by a private equity firm.
The Nevada Gaming Commission will meet May 28 and make a final decision, while the Gaming Control Board voted unanimously in favor of Station. Station Casinos General Counsel Richard Haskins said, “We just want to be treated no different from casinos with private owners, such as South Point and Treasure Island.”
A.G. Burnett, the Control Board Chairman, said he does view the company as owned by private equity. Station Casinos Chief Financial Officer Marc Falcone said, “The balance sheet has a consistent approach to reduce debt, reinvest in our assets and return capital to our investors.”
