Another Profitable Quarter for Station Casinos, 50% Fertitta acquisition on the cards

Good news continued for the Station Casinos Inc., as they posted a profitable quarter for three consecutive times. Their aggressive marketing strategy has been able to get them the desired benefit, even though there has been a lot of competition in the Las Vegas Market. Considering the sluggish recovering in economy of the entire nation (not just the Nevada State), this achievement seems even better.

Another thing, which is to take place for Station Casinos, is the acquiring of over 50 percent stakes of the Fertitta Interactive LLC. This company is behind the operations of Ultimate Gaming. Earlier in this year, they launched a free-play website for Facebook. It is expected that they might come out with a real money site on June 30 for Nevada.

Marc Falcone, who is the CFO and the executive vice president of Station Casinos, has not disclosed the amount, for which the purchase is to be made. He is expecting that this all-cash deal with Fertitta Interactive is going to be completed by month-end.

During a conference call, Falcone told analysts from the gaming industry, “The price, which is quoted for Fertitta, will not have an impact of any significance on the balance sheet of Station Casinos.”

Once the deal with Fertitta is going to be sealed for good, Station Casinos is going to have a majority in stakes (50 percent). Tom Breitling and Tim Poster, who are the cofounders of Fertitta, will each have 12.5 percent of the stakes, whereas Frank Fertitta III along with his brother Lorenzo are going to have the remaining 25 percent for themselves.

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