We want to retire to somewhere our kids and grandkids would want to live too. Under the proposal, the brothers will pay $85.6 million in cash for a 50% stake and then sell 4% of that stake to. Creditors may also want to convert its debt into equity given how low valuation multiples have been and the weak sale environment. But in order for it to rebound, he believes the Las Vegas Strip will need to show enhanced results. The Environment Services segment provides environmental services for private sector clients and remediation activities for private and public sector clients. In January, however, the market began to see a turnaround, as gaming revenue grew 3.7% to $181.7 million, receiving a big boost from the Boulder Strip, where a bulk of Station's casinos are located. Get in on the Action at Wildfire. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. -- Reported by Jeanine Poggi in New York. All quotes are in local exchange time. There is also the chance that the Fertitta brothers or Colony Capital will want to acquire these other assets, Calderone says. Privacy Notice, and The company was founded by Don Stanely in 1954 and is headquartered in Edmonton, Canada. However, Boyd's interest in Station Casinos is also dependent upon its plans for. Yet Station Casinos, a company with a relatively large $3 billion in long-term debt, compared to $550 million to $565 million in estimated EBITDA for 2006 -- … Wynn's place in casino stocks. has been the most vocal in its desire to obtain its assets. Posted on: April 30, 2016, 12:50h. Long-term, Bain believes in the market. If Boyd decided to purchase MGM's 50% share, it could eliminate capital it would have used for Station, says Alex Calderone, who provides turnaround and crisis management services for the gaming sector at Conway MacKenzie. And don't count out Icahn, who in recent months has been gobbling up casino assets, Calderone says. Stock Name Industry ... Fremont Hotel and Casino, and Main Street Station Casino, Brewery and Hotel. While Boyd is the clear leader for the assets, this doesn't mean other potential buyers won't come out of the woodwork. Action Alerts PLUS is a registered trademark of TheStreet, Inc. Weekend reads: $500,000 and a retirement problem, What a COVID-19 vaccine would mean for mortgage rates and the housing market, These are the 14 value stocks that top-performing investment newsletters like the most, Man who called Dow 20,000 says 3 factors will make 2021 ‘a very good year’ for stocks. There are currently no items in this Watchlist. The Buildings segment offers pre-design, design, and construction administration services in planning, architecture, buildings engineering, and interior design services for vertical infrastructure. Take the poll below to see the consensus of. That being said, which company -- Boyd, Penn National, , or even one of the larger names like Las Vegas Sands or MGM Mirage -- would you most like to see pick up some of Stations' assets? MGM Resorts led the decline on Friday after disappointing quarterly earnings, while a … The debt on the four properties would be reduced from $2.48 billion to $1.6 billion. Sterne Agee analyst David Bain says Boyd is the frontrunner for the Station assets, with enough liquidity to get the deal done. © 2020 TheStreet, Inc. All rights reserved. Intraday data delayed at least 15 minutes or per exchange requirements. Last year, Station rejected Boyd's offer of $950 million for 14 casinos. Station casinos stock - Take your playing experience up a notch with the most enhanced solution. Station Casinos going private in $5.5 billion buyout Feb. 26, 2007 at 1:19 a.m.


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