Station Casinos LLC -- Moody's Places Station Casinos LLC's ratings on review for upgrade

New York, May 13, 2016 -- Moody's Investors Service, ("Moody's") placed the ratings of Station Casinos LLC on review for upgrade after its company's parent, Red Rock Resorts, Inc., announced it had entered into an agreement to acquire the Palms Casino Resort in Las Vegas Nevada for total cash consideration of $312.5 million. The review for upgrade reflects: (1) Red Rock's recent IPO and buy-out of the existing management agreement - thereby eliminating Station's management fee expense, (2) improving operating conditions in Las Vegas, and (3) the likelihood Station will exceed our previous earnings expectations.

Vollständigen Artikel bei Moodys lesen