Station Casinos Regulatory Approval Granted

The Nevada Gaming Control Board and Nevada Gaming Commission voted unanimously to approve Station Casinos' restructuring, clearing all hurdles for the company's emergence from Chapter 11 protection. Frank and Lorenzo Fertitta will become the company's largest shareholders with a 45% stake. The Fertittas and the existing management team will remain the manager and operator of all of the properties, tribal partnerships, and land holdings. As part of the plan of restructuring, Frank and Lorenzo Fertitta personally reinvested nearly $200 million of new capital into the Station Casinos