LAS VEGAS – Station Casinos Inc. has reached a deal today with creditors that will allow the Green Valley Ranch resort to remain part of the casino company’s holdings.
According to the R-J, Station Casinos LLC, the company created to acquire most of the properties and assets of the bankrupt Station Casinos, said it reached an agreement to acquire the resort in Henderson for $500 million.
“We are pleased to have reached agreement with the first lien lenders to acquire Green Valley Ranch Resort,” said Frank Fertitta III, chairman and chief executive officer of Fertitta Entertainment, in a written statement.
Green Valley Ranch was developed by affiliates of Station Casinos and the Greenspun Corp., which is based in Henderson. The 496-room resort opened back in December 2001.
“This transaction will allow us to keep Green Valley Ranch Resort in the Station Casinos’ family, retain all of our team members, and continue to serve our loyal guests, all of which are very important to us,” Fertitta added.