Station Casinos said it had received Boyd’s offer and will review it “with its financial and legal advisers and relevant stakeholders.” “Given our experienced management team and our successful history of operating in the Las Vegas locals market, our access to capital and our existing Nevada gaming licenses, we are well-positioned to consummate this transaction.” “Boyd Gaming has significant availability and flexibility under its revolving credit facility to consummate the proposed transaction,” Boyd’s filing said. sent another message today that it intends to be a serious player in Station Casinos’ bankruptcy by offering $2.45 billion for most of the company.īoyd is offering $2.45 billion in cash and assumed debt for all 18 of Station’s casinos, some land and other assets, according to a filing with the Securities and Exchange Commission.īarbara Cappaert, a bond analyst with KDP Investment Advisors, said in a note to investors that the bid could force Station Casinos’ owners, the Fertitta family and real estate investment firm Colony Capital, to submit a strong restructuring plan or to sell the company.īoyd’s offer would be partially financed through the $2 billion remaining on Boyd’s $4 billion credit facility, and a possible new debt issue, Cappaert said.
