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The Casino Industry Insider - 12-2-2008

Dec 2, 2008 5:03 PM

The Insider by Ray Poirier | Station Casinos Inc. has notified the Securities & Exchange Commission that it plans to restructure its debt obligations and hopes to arrange a loan of between $450 million and $500 million from either of its co-owners, Colony Capital LLC or the Fertitta family.

PokerTek Inc. (PTEK), maker of automated poker tables, has asked that its securities be moved from the Nasdaq Global Market to the Nasdaq Capital Market.

Larry Mullin, president of the Borgata Hotel Casino & Spa in Atlantic City, says he will resign on Jan. 5, 2009, to take an executive position with an Australian gaming company. Bob Boughner, the Boyd Gaming executive who guided the Borgata construction, will replace Mullin until a permanent replacement is chosen.

Patrons injected $1.2 million in slot machines on the opening day of the Fire Rock Casino near Gallup, New Mexico, according to officials of the Navajo Nation, owners of the property.

Shuffle Master Inc. (SHFL) says it plans to drop its appeal of a district court ruling that favored rival Elixir Gaming Technologies Inc.