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Station Casinos Inc

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BUSINESS
January 17, 1998 | From Bloomberg News
Crescent Real Estate Equities Inc. has agreed to buy Station Casinos Inc. for $1.7 billion in securities and assumed debt, marking billionaire investor Richard Rainwater's first move into the gaming market. The transaction values Las Vegas-based Station at a lofty $18 a share, a 58% premium to yesterday's closing price of $11.38. On Friday, Station shares jumped $4.13, to close at $15.50. Crescent fell 13 cents to close at $37. Both trade on the New York Stock Exchange.
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BUSINESS
January 17, 1998 | From Bloomberg News
Crescent Real Estate Equities Inc. has agreed to buy Station Casinos Inc. for $1.7 billion in securities and assumed debt, marking billionaire investor Richard Rainwater's first move into the gaming market. The transaction values Las Vegas-based Station at a lofty $18 a share, a 58% premium to yesterday's closing price of $11.38. On Friday, Station shares jumped $4.13, to close at $15.50. Crescent fell 13 cents to close at $37. Both trade on the New York Stock Exchange.
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CALIFORNIA | LOCAL
December 10, 2003 | From Times Staff and Wire Reports
An Indian tribe has donated $1.5 million to Sonoma State University. The Federated Indians of Graton Rancheria, which plans to build a casino on the outskirts of Rohnert Park, gave the money to fund a faculty position in Native American studies. The money was advanced by the tribe's partner, Station Casinos Inc. of Las Vegas, which plans to finance and oversee operation of the casino.
BUSINESS
July 24, 2003 | From a Times staff writer
Shareholders were treated to another flurry of positive dividend news Wednesday. Since Congress voted in May to cut the tax on dividend income to a maximum of 15%, a raft of companies have decided to begin paying a dividend for the first time or to boost existing quarterly payouts. Among those doing so Wednesday: Brewer Anheuser-Busch Cos. raised its quarterly dividend to 22 cents from 19.5 cents. Still, its shares fell 44 cents to $51.10. Natural gas producer Burlington Resources Inc.
TRAVEL
December 16, 2001
A $300-million casino-resort is opening this week five miles southeast of the Strip in Las Vegas. The Green Valley Ranch, which sprawls across 40 acres off Interstate 15, includes 247 rooms, an 80,000-square-foot casino, seven restaurants, a poolside bar-nightclub, a spa, a 10-screen movie theater and even three acres of vineyards. All facilities are expected to be open by Tuesday, except the spa (to open Dec.
BUSINESS
December 5, 2006 | From the Associated Press
Private equity bidders extended their shopping spree for casino companies Monday as Station Casinos Inc. said it received a $4.7-billion buyout offer from its founding family and an affiliate of Colony Capital. The $82-a-share offer for the Las Vegas-based neighborhood casino operator, backed by Chief Executive Frank J. Fertitta III and President Lorenzo Fertitta, represented an 18.7% premium to Friday's closing price. Station shares shot above the mark Monday, rising $15.80, or 22.9%, to $84.
BUSINESS
February 27, 2007 | From the Associated Press
Neighborhood casino operator Station Casinos Inc. said Monday that it had agreed to be acquired by a private equity group that includes key members of its founding family for about $5.4 billion. The group known as Fertitta Colony Partners offered $90 a share for the Las Vegas-based company, an 8% premium over its closing price of $83.30 a share Friday. The group sweetened an earlier bid of $82 a share made Dec. 4.
CALIFORNIA | LOCAL
June 26, 2004 | Dan Morain, Times Staff Writer
While California Indian tribes do not disclose their casino revenue, compacts signed this week by Gov. Arnold Schwarzenegger and five bands of Native Americans provide insight into their wealth. The deals require that the tribes finance a $1-billion bond for the state with roughly 10% of their annual slot machine winnings. Combined, the five tribes would pay $100 million a year, meaning their slots generate $1 billion a year.
CALIFORNIA | LOCAL
August 23, 2009 | Ashley Powers
Frank Fertitta Jr., a bellman turned gaming mogul who pioneered the concept of neighborhood casinos in fast-growing Las Vegas, died Friday. He was 70. Fertitta, who founded Station Casinos Inc., which was publicly traded for more than a decade, was being treated for a heart condition at Cedars-Sinai Medical Center in Los Angeles when he died, the Las Vegas Review-Journal reported. Fertitta opened his first neighborhood casino -- simply named the Casino -- in 1976. The 5,000-square-foot gambling hall, attached to the Mini-Price Motor Inn and a short drive from Las Vegas Boulevard, gave the Strip's dealers and cocktail waitresses their own after-work hangout.
BUSINESS
May 23, 2007 | Martin Zimmerman, Times Staff Writer
Does Kirk Kerkorian have a hot hand? Wall Street thinks so. Investors went "all in" on shares of MGM Mirage on Tuesday, the day after Kerkorian's Tracinda Corp. disclosed that he wanted to buy two of the hotel and gaming company's prime Las Vegas assets. MGM Mirage's stock zoomed more than 27% despite few specifics from the billionaire investor concerning his plans. Other gaming stocks rallied as investors bet that Kerkorian was on to something.
TRAVEL
April 16, 2006 | Jane Engle, Times Staff Writer
OK, so it didn't cost $2.7 billion -- the price of the opulent Wynn Las Vegas that opened a year ago on the Strip. But at $925 million, the Red Rock Casino, Resort and Spa will weigh in as the costliest off-Strip destination yet, its operators say. And it comes fully loaded.
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