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Red Rock Resorts To Emerge From Station Casinos IPO

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(AP Photo/Jae C. Hong)

A security guard walks on Michaelangelo marble floor in the lobby area at the Red Rock Resort, Sunday, April 16, 2006. Since that time, the resort's owner Station Casinos has been through many ups and downs but is now ready for public trading once again.

It’s not the first time Station Casinos has been a publically traded company.

But seven years ago, private equity ownership took the Las Vegas-based gaming company private.

A bankruptcy filing a year later helped Station Casinos shed $4 billion of debt and emerge in 2011 with a new ownership structure.

Now, Station Casinos is a step closer to becoming a public company once again.

The Nevada Gaming Control Board has approved the company's plans to become a public company under a new name – Red Rock Resorts – which will be traded on the Nasdaq.

Station Casinos is the operating company under Red Rock Resorts, according to the Las Vegas Review-Journal.

Station Casinos includes Red Rock Resort, Green Valley Ranch, Palace Station, along with 17 other gaming properties, and tribal casinos in Northern California and Michigan.

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Howard Stutz, gaming reporter & columnist, Las Vegas Review-Journal

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