Station Casinos Going Public

Sat, Oct 17, 2015

Privately owned Station Casinos, and its two majority shareholders, Lorenzo and Frank Fertitta III (l.), announced it has filed the necessary federal forms for a proposed public offering of an undisclosed number of shares for an undetermined price. The move comes eight years after the casino chain went private and four years after it emerged from a bankruptcy reorganization begun in 2009.

Station Casinos filed a registration statement with the Securities and Exchange Commission for a proposed public offering eight years after the casino chain went private.

Station Casinos on October 13 announced it filed its registration Form S-1 with the SEC to sell an undetermined number of shares at an undetermined price.

Deutsche Bank Securities and J.P. Morgan are joint lead book-running managers for the proposed public offering, and Band of America, Merrill Lynch and Goldman Sachs are providing book-running management, Station Casinos announced.

Station Casinos owns 19 casinos in southern Nevada and manages two tribal casinos. It had been traded publicly for 14 years before going private after a leveraged buyout in 2007.

Station Casinos reorganized via bankruptcy in 2009 and emerged in 2011, with Frank Fertitta III and Lorenzo Fertitta owning a combined 58 percent of shares and Deutsche Bank 25 percent, Vegas Inc. reported.

Station Casinos did not provide any comments or statements on the proposed offering beyond announcing it.

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