Station Casinos
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| Limited liability company | |
| Industry | Gaming & hospitality |
| Founded | July 1, 1976 Las Vegas, Nevada, U.S. |
| Headquarters | Summerlin, Nevada, U.S. |
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Key people
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Frank Fertitta III, CEO |
| Revenue | US$1.38 billion (2014) |
| Owner |
Frank Fertitta III (29%) Lorenzo Fertitta (29%) Deutsche Bank (25%) Fidelity Investments (9%) Oaktree Capital Management (6%) |
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Number of employees
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11,600 (2015) |
| Website | sclv |
Station Casinos is a gaming company based in the Las Vegas suburb of Summerlin, Nevada, founded by Frank Fertitta, Jr. Station Casinos, along with Affinity Gaming, Boyd Gaming, Cannery Casino Resorts and American Casino & Entertainment Properties, dominate the locals casino market in Las Vegas. The company purchased several sites that were gaming-entitled, meaning that major casinos can be built at that location without additional approvals. There are only a limited number of such sites available in the Las Vegas area. Station has also branched out into managing casinos that they do not own. Red Rock Resorts, Inc. (NASDAQ: RRR) is a publicly traded holding company that owns a portion of Station Casinos.
The company started out as a locals casino operator on July 1, 1976, opening the Bingo Palace. This establishment was later renamed Palace Station. The company went public with an IPO in 1993.
On December 4, 2006, Frank Fertitta III, Lorenzo Fertitta and Colony Capital LLC, operating as Fertitta Colony Partners, made a highly leveraged offer to purchase all existing shares at $82 per share and take the company private. The Fertitta brothers, their sister Delise Sartini, and Blake L. Sartini, her husband, with a combined investment of $870.1 million, purchased a 25% stake in Fertitta Colony Partners. Colony Capital contributed $2.6 billion for a 75% share. As of November 7, 2007, the company's stock (old symbol STN) was no longer listed on the .
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