Station Casinos Says It Has Most Creditors Lined Up

Law360, New York (April 19, 2010, 6:41 PM EDT) -- Station Casinos Inc. said Monday that a group of creditors representing some 60 percent of the bankrupt casino resort operator's senior secured bank debt has agreed to support a $772 million stalking horse bid by a newly formed company led by Fertitta Gaming LLC to buy almost all the debtor's assets.

A joint plan of reorganization, in the U.S. Bankruptcy Court for the District of Nevada, now has the support of holders of almost 90 percent of the debtor’s combined secured debt, Station Casinos said....
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