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Station Casinos To Go Public

The off-Strip casino-hotel chain Station Casinos that caters to Las Vegas locals is going public, again.

The company announced last week it plans to make a public stock offering using some of the money it raises to buy out a related management company for $460 million in cash. Brothers Frank Fertitta III and Lorenzo Fertitta own the management company as well as a 58 percent stake in Station Casinos.

Station Casinos owns or partly-owns 21 casinos in the Las Vegas area, Northern California and Michigan. It's been on the upswing since filing for bankruptcy in mid-2009, emerging two years later with less debt.

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The company hasn't revealed how much it expects to raise from the public offering, at what share price and which stock market it will be traded on.