Boyd Gaming seeks competing plans for Station Casinos
Station Casinos, which operates casinos catering to Las Vegas residents rather than tourists, filed for bankruptcy protection in July. "Since the debtors (Station Casinos) have shown little interest in developing alternatives with potential buyers like Boyd, an examiner appears to be the logical intermediary between the reluctant debtors and motivated buyers," Boyd Gaming said.
In February, Boyd Gaming said it was interested in exploring an acquisition of Station Casinos. It filed a motion in October seeking extension of its exclusivity period, a 120-day breathing spell under U.S. bankruptcy law during which it exclusively can file a reorganization plan.
Boyd Gaming said such an extension should be subject to conditions that will allow alternative plans to be developed during the time. The bankruptcy case is In re: Station Casinos Inc, United States Bankruptcy Court, District of Nevada, No. 09-52477.
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