By: Rich Bergeron
Station Casinos has filed for bankruptcy after negotiations with creditors failed to produce a workable solution. While the bankruptcy filing only affects a portion of the vast business and its many arms, it could be a very long fight. The company, laden with an estimated $5.7 billion in debt, is playing off the move as nothing to get alarmed about in recent press reports:
LAS VEGAS REVIEW-JOURNAL: CHAPTER 11 PROTECTION: Station Casinos regroups, continues normal operations at resorts
Hurt by Debt, Casino Firm Station Files for Chapter 11
Station Casinos ends negotiations with bondholders, files for Ch. 11 protection
ASSOCIATED PRESS STORY ON BANKRUPTCY
CASINO CONSULTING AND MANAGEMENT COMPANY NOT PART OF BANKRUPTCY
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