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Station Casinos affiliates files bankruptcy to implement Green Valley sale,  Thursday, April 14, 2011 at 10:11:24 PM

Station Casinos Inc. affiliates including Fiesta Station Inc. filed for bankruptcy protection to implement an asset sale that is part of the parent company's reorganization plan.

Fiesta Station listed assets of as much as $500 million and debt of more than $1 billion in a Chapter 11 petition filed yesterday in U.S. Bankruptcy Court in Reno, Nevada. Green Valley Ranch Gaming LLC and 25 other related companies also sought court protection.

Green Valley Ranch Resort, Spa & Casino in suburban Las Vegas, a joint venture of Station Casinos and Greenspun Corp., will be acquired for $500 million by a group led by Fertitta family, Station Casinos said last month. the source
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