Casino Seeks Support For Prepackaged Ch. 11 Filing

Law360, New York (February 4, 2009, 12:00 AM EST) -- After seeing its revenue drop 19 percent in the fourth quarter of 2008, Station Casinos Inc. disclosed Tuesday that it was seeking bondholder support for a prepackaged Chapter 11 filing.

The company, which operates a number of gaming centers in Nevada, said it was offering a combination of secured notes and cash in exchange for all outstanding bonds.

If an agreement is reached between all of Station's lending constituents, then CEO and Chairman Frank J. Fertitta III, Vice Chairman Lorenzo J. Fertitta and other affiliates of...
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