The Station Casinos board of directors have approved a bid to take the company private. The bid was put together by several board members who also comprise top management and their family members, the Fertitas.
The deal is worth $5.5 billion.
Technorati Tags: gaming industry, las vegas, red rock, station
Categories: Business of Gaming, Station Casinos
With all of these large investment banks and investment firms liking their money covering all industries, it should be interesting to see what they buy now. With HET and now STN out of the game, all that money should mostly flow to MGM, LVS, and WYNN. I don't think many will buy BYD due to the closing of Stardust, and no Macau action. 2007 should be a very interesting year for casino stocks as the field of public companies is narrowing very quickly.
On a side note, I should have bought BYD six months ago, when I told all my friends to do so, at $33's and now the stock is trading in the $48's. That will teach me to practice what I preach.
Ian Mylchreest's column in the LV Business Press raises debt issues:
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