The condition was a holdover from its private equity ownership days. In May, Nevada gaming regulators approved an amendment to the company’s gaming license that allows payment of financial distributions to the company’s owners without approval from the Gaming Control Board. Rumors of a pending IPO surfaced in February during the company’s fourth-quarter earning conference call. The bankruptcy reorganization gave the bank an option to place Station Casinos into an IPO in June 2016, the five-year anniversary of the restructuring. Germany-based Deutsche Bank owns 25 percent of Station Casinos. As part of the IPO, Station Casinos will acquire Fertitta Entertainment for $460 million.

In addition, the management of the company’s casinos was held under Fertitta Entertainment. But a year later, the Fertittas paid $73 million to buy out JP Morgan Chase & Co.’s ownership stake, giving the family a controlling 58 percent ownership.

A year later, Station Casinos filed for Chapter 11 bankruptcy reorganization and emerged in June 2011 with a new ownership structure, having trimmed $4 billion of debt from the company’s books.Ĭompany founders Frank Fertitta III and Lorenzo Fertitta retained a 45 percent ownership stake in Station Casinos, due to a $200 million investment the brothers put into the company. The company was publicly traded before 2008, when private equity ownership took over Station Casinos. The company also manages two Indian casinos, one in Northern California and one in Michigan. Station Casinos operates 19 large and small casinos throughout the Las Vegas Valley. The management changes take effect on Nov. In a separate filing with the SEC, Station Casinos said it promoted company president Steve Cavallaro to executive vice chairman Rich Haskins, from executive vice president and general counsel to president and Dan Roy from executive vice president of operations to executive vice president and chief operating officer. “The number of shares to be offered and the price range for the proposed offering have not yet been determined,” the company said in a statement.Ĭompany officials declined comment beyond the brief statement. Station Casinos did not offer a time frame nor did it say which market - the New York Stock Exchange or the Nasdaq - where the company’s stock will be listed. The casino operator filed an S-1 registration statement with the Securities and Exchange Commission announcing plans to sell stock in the company. Station Casinos, which has been privately held since 2008, announced plans Tuesday for an initial public offering that will return the company to the stock market.

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