{"id":141,"date":"2009-02-24T14:09:00","date_gmt":"2009-02-24T18:09:00","guid":{"rendered":"https:\/\/www.lasvegasadvisor.com\/blogs\/dmckee\/index.cfm\/2009\/2\/24\/Station-vs-Boyd"},"modified":"2009-02-24T14:09:00","modified_gmt":"2009-02-24T18:09:00","slug":"station-vs-boyd","status":"publish","type":"post","link":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/station-vs-boyd\/","title":{"rendered":"Station vs. Boyd"},"content":{"rendered":"

Seeing as I'm still trying to make sense of Boyd Gaming<\/strong>'s offer to buy much (but not all) of Station Casinos<\/strong> — and some Station assets may not be worth obtaining — I'll just pass along Station's response to the Boyd offer:<\/p>\n

"We received an unsolicited, non-binding, preliminary indication of interest from Boyd Gaming Corporation to buy some of our company's assets. We intend to continue to work with our lenders and bondholders to pursue our previously proposed plan of reorganization, but we will evaluate the terms of Boyd Gaming's proposal<\/em>."<\/p>\n

In other words, Station is blowing off Boyd … but Boyd is already talking over Station's head. Its true audience is Station's debtors. And with Boyd putting $950 million<\/strong> on the table (and drawing attention to its $2 billion<\/strong> line of credit), the prospects of bondholders falling meekly in line for that March 2 debt swap suddenly got a whole lot worse. Thursday's Boyd conference call is going to be must-hear podcasting.<\/p>\n","protected":false},"excerpt":{"rendered":"

Seeing as I'm still trying to make sense of Boyd Gaming's offer to buy much (but not all) of Station Casinos — and some Station assets may not be worth obtaining — I'll just pass along Station's response to the … Continue reading →<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[88,57],"tags":[],"_links":{"self":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/141"}],"collection":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/comments?post=141"}],"version-history":[{"count":0,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/posts\/141\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/media?parent=141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/categories?post=141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lasvegasadvisor.com\/stiffs-and-georges\/wp-json\/wp\/v2\/tags?post=141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}