Station eyes selling two Vegas casinos?

Sep 15, 2009 5:02 PM
Not true says Station spokesperson

Gaming Insider by Phil Hevener |
Green Valley Ranch and Aliante are said to be among the Station Casinos properties most likely to be sold as the company’s re-organization effort rumbles forward in a Reno Bankruptcy Court.

Neither property is part of the bankruptcy proceeding, being half-owned in each case by the privately held Greenspun organization and Station.

This statement is partly speculative but is based on information from insiders that they expect these two casinos to be sold, possibly by the end of the year. Both would appear to fit nicely within the apparent Boyd Gaming strategy to expand its presence in the locals market.

However, Lori Nelson, Director of Corporate Communication for Station denies the rumor and says neither casino is for sale.

Some feel it’s also possible the Greenspun family, owners of the Las Vegas Sun newspaper, would like to own more than half of either property, but the Greenspun businesses, like everything dependent on the spending of Las Vegas area residents, have been hit hard by the economic slowdown.

Boyd, on the other hand, has re-affirmed its interest in some of the Station casinos.

Question? Comment? E-mail me at: Phil Hevener