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NEW YORK - As Reported by the Wall Street Journal: "Station Casinos Inc. said Thursday evening it will likely avoid filing for bankruptcy protection by Friday's deadline, as lenders are expected
to grant the debt-strapped casino company another extension.
"We expect to receive a forbearance extension from our lenders tomorrow and are awaiting the paperwork," Station spokeswoman Lori Nelson said in an emailed statement Thursday evening.
The extension will allow Station more time to work out a pre-packaged bankruptcy plan with lenders who are owed $5.7 billion. Station took on much of that debt to finance a 2007 buyout led by the company's founding family, the Fertittas, and Los Angeles-based investment firm Colony Capital LLC..."
|Station Casinos is a gambling corporation located in Las Vegas. What began as a casino with a locals following has developed into a portfolio of some of the best casinos in the country.|
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